Dubai Aerospace Enterprise Secures US$420 Million Loan
Dubai Aerospace Enterprise Ltd (DAE) has inked a significant deal, signing a US$420 million 5-year unsecured term loan with China Construction Bank (DIFC Branch) and China Construction Bank (Asia) Corporation Limited (CCB). This loan is earmarked to bolster the company’s future financing requirements.
Firoz Tarapore, CEO of DAE, expressed his satisfaction with the agreement, emphasizing the deepening of their relationship with one of the world’s foremost banking entities, the DIFC Branch of China Construction Bank. He highlighted that this term loan would further enhance DAE’s already robust liquidity, which stood at US$4.1 billion by the close of 2023. Tarapore extended gratitude to CCB DIFC Branch and CCB (Asia) for their unwavering support and anticipated continued collaboration in the future.
Yuan Shengrui, Senior Executive Officer at China Construction Bank (DIFC Branch), echoed similar sentiments, emphasizing their commitment to customer-centricity and the provision of diverse financial products and services to DAE. Shengrui reiterated CCB’s dedication to supporting globally significant enterprises like DAE within the aviation sector.
Daphne Wat, Deputy Chief Executive at China Construction Bank (Asia) Corporation Limited, hailed DAE as a major player in the global aviation industry. Wat expressed honor in supporting DAE as the Global Coordinator of this landmark transaction and looked forward to further partnership opportunities, leveraging their expertise and presence in the aviation sector and the Hong Kong syndication market.
Lesley Jones (pictured) is Chief Legal Officer of Dubai Aerospace Enterprise (DAE) Ltd.
