$4 Billion: Dubai Aerospace Enterprise Expands Revolving Credit Facilities

Dubai Aerospace Enterprise (DAE) Ltd, a leading global aviation services company, announced on Tuesday that it has signed agreements for new $2.8 billion long-term unsecured revolving credit facilities. The new financing package will replace existing facilities worth $1.4 billion and is set to mature in March 2031, effectively boosting the company’s total revolving credit capacity to approximately $4 billion. The multi-currency facility includes commitments in both U.S. Dollars and UAE Dirhams, comprising $2.3 billion in conventional financing and $0.5 billion in Sharia-compliant liquidity provided by a syndicate of 15 international financial institutions. Emirates NBD and First Abu Dhabi Bank (FAB) were appointed as Initial Mandated Lead Arrangers for the conventional tranche, while Abu Dhabi Islamic Bank (ADIB) served as the Mandated Lead Arranger for the Islamic facility. Firoz Tarapore, Chief Executive Officer of DAE, stated that the new facilities reinforce the company’s liquidity position. He noted that by leveraging both conventional and Sharia-compliant funding sources, the agreements underscore DAE’s ability to access diverse liquidity from local banking partners and a broad range of global financial institutions.