Dubai, U.A.E., 15 November 2018 – Dubai Aerospace Enterprise (DAE) Ltd. announced that it has signed a new unsecured US$720 million revolving credit facility with a group of nine international banks based in US, Europe and Asia. The credit facility has a maturity of five years.
Firoz Tarapore, Chief Executive Officer of DAE commented: “This new revolving credit facility will significantly boost our liquidity profile and accord us enhanced flexibility to act expeditiously on market opportunities to acquire assets and grow our business. In October, DAE received its first investment grade rating of BBB+ and this strengthening of our liquidity profile and overall financial position is consistent with our publicly stated intent of achieving investment grade ratings from all major credit rating agencies.”
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Dubai Aerospace Enterprise (DAE) Ltd. is a globally recognized aerospace corporation and one of the largest aircraft leasing companies in the world. Headquartered in Dubai, DAE’s leasing and engineering divisions serve over 125 airline customers around the world from its seven locations in Dubai, Dublin, Amman, Singapore and the US.
DAE’s award-winning leasing division DAE Capital has an owned, managed and committed fleet of approximately 365 Airbus, ATR and Boeing aircraft with a fleet value of US$14 billion. More information can be found on the company’s web site at www.dubaiaerospace.com.
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