Dubai, Dubai Aerospace Enterprise (DAE) Ltd, confirmed today that it has closed an US$800 million equivalent Term Loan and Revolving Credit Facilities (the “Facilities”) jointly arranged by Citibank N.A., Deutsche Bank AG, Emirates Bank International PJSC (an Emirates NBD Company), Lloyds TSB Bank Plc and an Islamic tranche managed by Noor Islamic Bank.

The tenor of the Facility is three years and will be used for DAE’s general corporate purposes.

DAE is a global aerospace engineering, manufacturing, services corporation that represents an important strategic investment for the Government of Dubai as well as its indirect shareholders, who are among Dubai’s most significant and important organisations including Investment Corporation of Dubai, Dubai Silicon Oasis, DIFC Investments, Istithmar World, Emaar, Amlak and Dubai International Capital.

Dr. Omar bin Suleiman, DAE Group Managing Director, said “This Facility will allow DAE to continue its impressive growth into a world-class global aerospace business. DAE is determined to support Dubai’s continued emergence as a globally renowned aerospace centre and aviation hub”.

Source: Press Release (Dubai Aerospace Enterprise)