Dubai, U.A.E., 20 January 2020 – Dubai Aerospace Enterprise (DAE) Ltd. announced today that it has signed a US$300 million 4-year unsecured term loan with China Construction Bank (DIFC Branch) and China Construction Bank (Asia) Corporation Limited. The principal amount of the loan can be increased to US$500 million. The loan will support the future financing needs of the business.
Firoz Tarapore, Chief Executive Officer of DAE said: “We are delighted to start the new year 2020 with a meaningful and sizeable transaction with the DIFC branch of one of the world’s leading banking organizations. We look forward to deepening our relationship with CCB in the future.”
Yuan Shengrui, Senior Executive Officer at China Construction Bank (DIFC Branch) said: “CCB DIFC Branch is delighted to have been given the opportunity to co-lead this successful transaction. It is a privilege to assist DAE in their financing requirements and we look forward to further collaborations in future.”
“This syndication is the first financing which CCB Group arranged for DAE, and we are pleased to have the opportunity to be involved with closing such a successful deal. It demonstrates that DAE is a well-established borrower, which commands significant interest in both Asia and Middle East banking market. We look forward to continuously leveraging on CCB’s overseas network and resources to deepen our partnership with DAE and promote closer business collaboration in the future.”
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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 to own and manage fleet of approximately 410 Airbus, ATR and Boeing aircraft with a fleet value exceeding US$15.5 billion. More information can be found on the company’s web site at www.dubaiaerospace.com.
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