WAM: Dubai Aerospace Enterprise (DAE) Ltd announced that it had successfully closed a new 4-year US$1 billion Revolving Credit Facility with a 1-year extension option.
The Facility replaces other facilities with near-term maturity dates and represents DAE’s first facility that is priced with reference to Secured Overnight Financing Rate (SOFR). The Facility attracted the appetite from a broad group of banks and was oversubscribed.
Al Ahli Bank of Kuwait K.S.C.P – DIFC Branch (ABK), Emirates NBD Capital Limited (EMCAP) and First Abu Dhabi Bank PJSC (FAB) served as the Mandated Lead Arrangers and Bookrunners. EMCAP also acts as a Facility Agent for the banking syndicate.
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