Dubai’s DAE signs $2.8 billion credit deal, total credit rises to $4bn

Dubai: Dubai Aerospace Enterprise (DAE) Ltd has signed agreements for new long-term, unsecured revolving credit facilities worth $2.8 billion, increasing its total revolving credit capacity to approximately $4 billion.

The new facilities replace an existing $1.4 billion facility and have a maturity date of March 2031, the company said in a statement on Tuesday.

The financing includes both US dollar and UAE dirham commitments, comprising $2.3 billion in conventional funding and $0.5 billion in Shari’a-compliant liquidity. The funds have been secured from 15 global financial institutions.

Headquartered in Dubai, DAE operates across two divisions—DAE Capital and DAE Engineering—and serves more than 200 airline customers in over 80 countries.

Emirates NBD and First Abu Dhabi Bank acted as Initial Mandated Lead Arranger, Bookrunner, and Coordinator on the conventional facility, while Abu Dhabi Islamic Bank served as Mandated Lead Arranger on the Shari’a-compliant facility.

Firoz Tarapore, CEO of DAE, said, “We are delighted to announce these new facilities, which further bolster DAE’s liquidity strength.”

He added, “By tapping both conventional and Shari’a-compliant sources of funding, this transaction underscores DAE’s exceptional access to liquidity from both our local banking partners and a globally diversified group of leading financial institutions.”

DAE had earlier secured a $300 million three-year unsecured term loan in June 2025 from Bank of China entities to support general corporate purposes.