DAE bolsters liquidity strength with new financing actions

| DAE CapitalDAE Group

Arabic version

Dubai, U.A.E., 19 October 2021 – Dubai Aerospace Enterprise (DAE) Ltd, the global aviation services company, today announced financing actions that further enhance the company’s liquidity strength:

  • US$780 million of new Senior Unsecured Term Financings with a weighted average maturity of 7.7 years in two transactions, each underwritten by a leading bank in the region
  • US$800 million of 24-month revolving credit facility maturity extensions from 2023 to 2025

Firoz Tarapore, Chief Executive Officer of DAE, stated, “These new financings and facility extensions underscore DAE’s commitment to maintaining exceptional liquidity and a strong balance sheet as we navigate challenging trends in the aviation industry. This, combined with the diversity of our approximately 400 lender and investor relationships, has allowed us to operate confidently during the period.

“Our capital strength along with capital from our managed asset mandates has allowed us to provide in excess of US$3 billion of purchase commitments to our airline clients and OEMs during the pandemic.”

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About DAE

Dubai Aerospace Enterprise (DAE) Ltd. is a global aviation services company headquartered in Dubai. DAE serves over 170 airline customers in over 65 countries from its seven office locations in Dubai, Dublin, Amman, Singapore, Miami, New York and Seattle.

DAE’s award-winning Aircraft Leasing division has an owned, managed, committed and mandated to manage fleet of approximately 425 Airbus, ATR and Boeing aircraft with a fleet value exceeding US$16 billion. DAE’s Engineering division serves customers in Europe, Middle East, Africa and South Asia from its state-of-the-art facility accommodating up to 15 wide and narrow body aircraft. It is authorized to work on 13 aircraft types and has regulatory approval from over 25 regulators globally. More information can be found on the company’s web site at www.dubaiaerospace.com.

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