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Dubai Aerospace Enterprise Closes $1.6 billion Financing Deal

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Dubai Aerospace Enterprise Closes $1.6 billion Financing Deal
$1.6 billion Financing Deal for the favor of Dubai Aerospace Enterprise

Dubai Aerospace Enterprise Secures $1.6 Billion Financing Deal from 26 Lenders.

Contents
DAE’s largest syndicated bank loan to date.Strong Relations between Dubai Aerospace Enterprise and the local and international banks.

Dubai Aerospace Enterprise (DAE) announced today that it has signed a new multi-tranche financing agreement.
Furthermore, it is structured as a combination of revolving credit facilities and term financing facilities.
Each with conventional and Islamic tranches.

While, HSBC and JPMorgan acted as joint bookrunners and joint mandated lead arrangers for the deal.

DAE’s largest syndicated bank loan to date.

Due to strong demand, the deal achieved more than twice the initial expected subscription size.
Since it closed at USD 1.6 billion with the participation of a group of 26 lenders.

In fact, the financing deal enabled DAE to tap into Islamic banking liquidity.
In addition to strengthening its existing banking relationships in the Middle East, Asia, North America, and Europe.
While the returns of the deal will support the company’s future funding needs and refinance maturing credit facilities.

Strong Relations between Dubai Aerospace Enterprise and the local and international banks.

Firoz Tarapore, Chief Executive Officer of DAE, said:

“We are very pleased with the exceptional results achieved by the joint bookrunners.
Since they demonstrated a combination of strong leadership and sound market judgment.
Which enabled DAE to execute a successful financing transaction to support the company’s strategy.”

He added: “The closing of the financing facilities.
As well as the increase in the subscription size and over subscription, is a testament to the support that banks have placed in DAE and its future growth prospects.

Moreover, these facilities will allow the company to maintain its strong liquidity.
Also it will support the funding requirements of the recently announced acquisition.”

He affirmed the company’s commitment to continuing to strengthen banking relationships with banking partners in the coming years.

In this context, Shaikha Al Marri, Head of Governance and Corporate at HSBC Dubai, said:

“HSBC has a long-standing relationship with DAE.
There is a strong demand for this landmark transaction from investors across a wide range of geographies.
Which led to a significant increase in its final size.

This clearly demonstrates how we leverage the power of our network on behalf of our clients.”

Also, Imran Zidi, Head of Corporate Banking for the Middle East, North Africa and Pakistan at JPMorgan, said:

“This transaction was well-received and oversubscribed, which is a testament to investor confidence in DAE’s performance.”

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Editor September 18, 2023 September 18, 2023
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