Dubai, U.A.E., 27 December 2022 – Dubai Aerospace Enterprise (DAE) Ltd today announced the signing of new Senior Unsecured Term Financings for a total of US$800 million with a weighted average maturity of 5.5 years in two transactions. Each facility was underwritten by a leading bank in the region.
Firoz Tarapore, Chief Executive Officer of DAE, stated, “The signing of these financing facilities underscores DAE’s commitment to maintaining exceptional liquidity and a strong balance sheet. We have no near-term debt maturities, providing us with significant flexibility in the current interest rate environment.”
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Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized aviation services corporation with two divisions: DAE Capital and DAE Engineering. 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 Capital is an award-winning aircraft lessor and financier with an owned, managed, committed, and mandated to manage fleet of approximately 500 Airbus, ATR and Boeing aircraft with a fleet value exceeding US$16 billion. DAE Engineering provides regional MRO services to customers in Europe, Middle East, Africa, and South Asia from its state-of-the-art facility in Amman, Jordan, accommodating up to 17 wide and narrow body aircraft. It is authorized to work on 15 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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