DAE signs US$535 million unsecured revolving credit facility

Dubai Aerospace Enterprise (DAE) has signed a new four-year unsecured revolving credit facility arranged by Emirates NBD as sole mandated lead arranger and bookrunner. The initial commitment of US$535 million is from a group of eight regional banks. The accordion feature allows the facility to be increased to up to US$600 million at any time after the initial closing. The facility will support the future financing needs of the business. Firoz Tarapore, Chief Executive Officer of DAE said: “We are pleased to sign this facility with Emirates NBD, a leading bank in the UAE and the Middle East. This facility