DAE signs new $440 million unsecured revolving credit facility

Dubai Aerospace Enterprise (DAE) has signed a new long-term unsecured revolving credit facility with First Abu Dhabi Bank PJSC and HSBC Bank Middle East Limited as bookrunners and mandated lead arrangers. Following an oversubscription in syndication, the facility was closed at an amount of US$440 million with a group of 12 lenders. The facility will support the future financing needs of the business. The total amount raised by DAE is $2.8 billion of new unsecured long-term credit facilities in last 12 months. Firoz Tarapore, chief executive officer of DAE said: “We are pleased to sign this facility with First Abu