Dubai - Mubasher: Dubai Aerospace Enterprise (DAE) has inked a five-year unsecured financing facility at a value of $300 million with Emirates Islamic and Emirates NBD Capital to support DAE’s future financing needs.
The loan, which can increase to $600 million, contains two tranches, a conventional and an Islamic one, according to DAE’s press release on Monday.
Senior executive vice president and group head of corporate and institutional banking for ENBD, Ahmed Al Qassim, remarked: “This facility will be yet another transaction led by ENBD post conclusion of the $600 million RCF for DAE in FY2018. DAE remains our key relationship and this transaction demonstrates ENBD’s continued support towards addressing DAE’s financial requirements.”
