DAE repays $705 million bank loan

Dubai - "We had committed to repay the full principal amount in 2015 and we were able to deliver on our commitment."

By Staff Report

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Published: Wed 22 Jul 2015, 12:00 AM

Last updated: Wed 22 Jul 2015, 2:00 AM

Dubai Aerospace Enterprise, or DAE, has fully repaid a $705 million bank loan facility from the proceeds of the sale of StandardAero, said a Press statement here on Tuesday. The facility was provided by Barwa Bank, Deutsche Bank, Emirates NBD Bank, and Noor Bank.
Khalifa H. AlDaboos, managing director, Dubai Aerospace Enterprise said: "We had committed to repay the full principal amount in 2015 and we were able to deliver on our commitment. This reinforces our credibility with banks and further strengthens our ability to quickly finance large transactions with the assistance of our partner banks."
Firoz Tarapore, Chief Executive Officer, Dubai Aerospace Enterprise said: "Today, DAE is one of the most strongly capitalised aircraft leasing companies in the world."



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