DAE signs $ 300 million unsecured financing deal

Dubai 30-09-2019
Dubai Aerospace Enterprise (DAE) today signed a $ 300 million 7-year unsecured financing deal with six banks.
ADCB acted as the guarantor, lead arranger and bookrunner.
Fairuz Tarapur, chief executive of Dubai Aerospace Enterprise, said the financing deal, led and arranged by Abu Dhabi Commercial Bank, would raise the total liquidity they have raised in the past 18 months to $ 3.5 billion, ensuring the airline has significant funding power to advance the company’s ambitious growth plans.
Ludovic Nobili, head of investment banking at Abu Dhabi Commercial Bank, said the company’s assistant in achieving its strategic financing targets included increasing the percentage of unsecured debt in the company’s public debt structure.