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02 October 2019
INVESTMENT

Dubai Aerospace secures $300 million seven-year unsecured term loan

The financing facility will be used to repay secured debt and support the future financing needs of the business.

SHUTTERSTOCK/Cashguy


Dubai Aerospace Enterprise (DAE) has signed a $300 million seven-year unsecured term loan with a syndicate of banks.

Firoz Tarapore, the Chief Executive Officer of DAE, said that the unsecured loan further underpins the company’s ambition to structure its funding and liquidity predominantly around unsecured debt.

The transaction brings the total liquidity DAE has raised in the last 18 months to $3.5 billion, giving the company considerable funding certainty to pursue its aggressive growth agenda, added Tarapore.

Abu Dhabi Commercial Bank was the initial mandated lead arranger, bookrunner and underwriter on the transaction.

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