Home News Dubai Aerospace Enterprise signs $1b revolving credit facility – Gulf News

Dubai Aerospace Enterprise signs $1b revolving credit facility – Gulf News

by Dubai Forum
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Dubai: Dubai Aerospace Enterprise Ltd (DAE) has successfully signed a $1 billion senior unsecured revolving credit facility, it announced on Tuesday. Al Ahli Bank of Kuwait, Emirates NBD Capital Ltd, and First Abu Dhabi Bank acted as the initial mandated lead arrangers and bookrunners, while Emirates NBD Bank was the facility agent on the deal.

The credit facility would primarily be utilised to consolidate and refinance DAE’s existing syndicated financing facilities, with the balance proceeds for general corporate purposes and working capital requirements. The deal represents DAE’s debut secured overnight financing rate-linked syndicated transaction and incorporates a four-year tenor, with an extension option.

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