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The facility will be used to support the future financing needs of the business.
Sunday 30, June 2019 BY KUDAKWASHE MUZORIWA
Dubai Aerospace Enterprise (DAE) has signed a new long-term unsecured revolving credit facility with First Abu Dhabi Bank and HSBC Bank as bookrunners and mandated lead arrangers.
In a statement, DAE said that following an oversubscription in syndication the facility was closed at $440 million with a group of 12 lenders.
Firoz Tarapore, the Chief Executive Officer of DAE, said, “DAE has raised $2.8 billion of new, long-term unsecured revolving credit facilities in the last year and these facilities support the growth of our business, boosting the liquidity cushion and facilitating our migration to a principally unsecured debt issuer.”