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DAE inks $300m facility with Emirates Islamic and Emirates NBD Capital

Staff Report/Dubai
Filed on February 3, 2020
Salah Amin, chief executive officer of Emirates Islamic, Firoz Tarapore, chief executive officer of DAE and Ahmed Al Qassim, senior executive vice president of Emirates NBD. - Supplied photo

Dubai Aerospace Enterprise (DAE) announced on Monday that it has signed a $300 million 5-year dual tranche unsecured term financing facility with Emirates Islamic and Emirates NBD Capital, the investment banking arm of Emirates NBD.

 The facility will contain a conventional and an Islamic tranche and can be upsized to $600 million. The facility will support the future financing needs of DAE's business.

Firoz Tarapore, chief executive officer of DAE said: "We are very pleased to enter into this agreement with Emirates Islamic and Emirates NBD Capital, and to deepen our relationship with Emirates NBD as we continue to diversify our pool of liquidity. We thank both Emirates Islamic and Emirates NBD Capital for their trust in our organisation and look forward to a continuing, long term relationship." - business@khaleejtimes.com

 



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