Emirates NBD runs the books
Dubai Aerospace Enterprise (DAE) Ltd. announced that it has increased an existing revolving credit facility to US$600 million from the original amount of US$535 million announced in December 2018.
ENBD is the sole Mandated Lead Arranger and Bookrunner.
Earlier, DAE Ltd. had announced repurchase of outstanding common shares worth $250 million. DAE also announced that it had received $250 million in connection with the early partial repayment of a Note Receivable from certain shareholders.
Firoz Tarapore, Chief Executive Officer of DAE commented: “We are committed to maintaining a strong balance sheet and generating best-in-class margins, returns and leverage. Repurchasing our shares at this time allows us to optimize the capital we need to run our business efficiently.”
Read More: DAE’s Managed Aircraft Portfolio Grows to 54