Dubai Aerospace Enterprise (DAE) today announced that it has signed an AED2.75 billion (US$750 million) 5-year unsecured term loan with Emirates NBD Bank (ENBD).

The loan will be used for general corporate purposes and support the future financing needs of the business.

Firoz Tarapore, Chief Executive Officer of DAE, commented, “This transaction marks a further deepening of our relationship with ENBD, one of the largest lenders in the UAE, through this Emirati Dirham denominated term loan. The loan will serve to further strengthen our exceptional liquidity.”

WAM