DAE signs $535m revolving credit facility

Dubai Aerospace Enterprise, DAE, yesterday announced that it has signed a new four-year unsecured revolving credit facility arranged by Emirates NBD as sole mandated lead arranger and bookrunner.

The initial commitment of $535 million (Dh1.96 billion) is from a group of eight regional banks. The accordion feature allows the facility to be increased to up to $600 million at any time after the initial closing. The facility will support the future financing needs of the business. (WAM)