DAE closes $800m loan facility

Dubai Aerospace Enterprise (DAE) Ltd. announced that it had successfully closed its $800 million (Dh2.94 billion) revolving loan facility, which was launched last May.

The credit facility, initially launched for $480 million achieved substantial oversubscriptions. Al Ahli Bank of Kuwait (ABK) serves as the coordinating mandated lead arranger and bookrunner, and together with First Abu Dhabi Bank (FAB) acts as mandated lead arranger and bookrunner.