{"id":90834,"date":"2024-04-05T00:00:00","date_gmt":"2024-04-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dae-secures-new-aed-2-75-bn-5-year-unsecured-term-loan-from-emirates-nbd\/"},"modified":"2024-04-05T00:00:00","modified_gmt":"2024-04-05T00:00:00","slug":"dae-secures-new-aed-2-75-bn-5-year-unsecured-term-loan-from-emirates-nbd","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/04\/05\/dae-secures-new-aed-2-75-bn-5-year-unsecured-term-loan-from-emirates-nbd\/","title":{"rendered":"DAE secures new AED 2.75 bn 5-year unsecured term loan from Emirates NBD"},"content":{"rendered":"

Dubai Aerospace Enterprise (DAE) is receiving a AED 2.75 bn five-year unsecured<\/strong> term loan with Emirates NBD<\/strong> to support the state-owned firm\u2019s general corporate needs and future financing requirements, according to a company statement<\/a>. The AED- denominated loan \u201cwill serve to further strengthen our exceptional liquidity,\u201d DAE CEO Firoz Tarapore said. <\/p>\n

About DAE:<\/strong> DAE is a global aviation services firm with two divisions, DAE Capital and DAE Engineering. DAE Capital is an aircraft lessor with a fleet of some 500 aircraft worth more than USD 17 bn. DAE Engineering provides maintenance, repair, and overhaul services to clients across Europe, the Middle East, Africa, and South Asia. <\/p>\n

ICYMI- <\/strong>DAE secured USD 420 mn in funding<\/a> from China Construction Bank (CCB) to bolster liquidity, last month. The five-year credit facility was earmarked to support \u201cthe future financing needs of the business,\u201d the firm said. CCB also provided DAE with a four-year USD 300 mn unsecured loan<\/a> in 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

The loan aims to support DAE\u2019s general corporate needs and future financing requirements<\/p>\n","protected":false},"author":1,"featured_media":90835,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1546],"tags":[68,815,260,7],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90834","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-dubai-aerospace-enterprise","tag-emirates-nbd","tag-enterpriseam-uae","wpautop","entry"],"acf":{"mongo_id":"d381634a-268c-41b6-b9df-b30cab02ec7a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/599.jpg","photo_position":"above","homepage_title":"","full_issue_title":"DAE secures new AED 2.75 bn 5-year unsecured term loan from Emirates NBD","related_issue":[90823],"teaser":"The loan aims to support DAE\u2019s general corporate needs and future financing requirements","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.9c388cf1-5b57-4bba-a924-6707cccb4923.mp3"},"yoast_head":"\nDAE secures new AED 2.75 bn 5-year unsecured term loan from Emirates NBD - 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