Dubai, U.A.E., 20 March 2024 – Dubai Aerospace Enterprise (DAE) Ltd (“DAE”), the global aviation services company, today announced that it has signed a US$420 million 5-year unsecured term loan with China Construction Bank (DIFC Branch) and China Construction Bank (Asia) Corporation Limited (“CCB”). The loan will support the future financing needs of the business.
Firoz Tarapore, Chief Executive Officer of DAE said: “We are delighted to announce this transaction, reflecting a further deepening of an already strong relationship with the DIFC Branch of one of the world’s leading banking organizations. This term loan will serve to further strengthen our already exceptional liquidity, which stood at US$4.1 billion at the end of 2023. We would like to thank the CCB DIFC Branch and CCB (Asia) for their continued support, and look forward to continuing to work with CCB in the future.”
Yuan Shengrui, Senior Executive Officer at China Construction Bank (DIFC Branch) said: “CCB DIFC Branch is delighted to collaborate again with DAE, a globally significant enterprise in the aviation sector. We are dedicated to maintaining a customer-centric approach, leveraging CCB Group’s competitive advantage in the financial market and continue to strive to provide DAE with a more diverse range of financial products and services.”
Daphne Wat, Deputy Chief Executive at China Construction Bank (Asia) Corporation Limited, said, “DAE is one of the top players in global aviation industry. We are honored to have supported DAE as the Global Coordinator of this landmark transaction. We look forward to continuing the partnership with DAE with our strong presence in aviation sector and proficiency in Hong Kong syndication market.”
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About DAE
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 with an owned, managed, and committed fleet of approximately 500 Airbus, ATR and Boeing aircraft with a fleet value exceeding US$17 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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