DAE secures $420 million unsecured term loan from China Construction Bank
[ad_1]
Dubai Aerospace Company Ltd (DAE) announced today that it has signed a 5-year, $420 million unsecured term loan with China Construction Bank (DIFC Branch) and China Construction Bank (Asia) Corporation Limited (CCB). The loan will support the future financial needs of the business.
Firoz Tarapore, CEO, DAE saying:
“We are delighted to announce this transaction, which reflects the further deepening of an already strong relationship with the DIFC branch of one of the world’s leading banking organisations. This term loan will serve to further strengthen our already exceptional liquidity, which stood at $4.1 billion at the end of 2023. We would like to thank CCB DIFC Branch and CCB (Asia) for their continued support, and we look forward to continuing to work with CCB in the future”.
Yuan Shengrui, Senior Managing Director of China Construction Bank (DIFC Branch), saying:
“The CCB DIFC branch is delighted to collaborate again with DAE, a globally important company in the aviation sector. “We are dedicated to maintaining a customer-centric approach, leveraging CCB Group’s competitive advantage in the financial market and continue to strive to provide DAE with a more diverse range of financial products and services.”
Daphne Wat, Deputy CEO of China Construction Bank (Asia) Corporation Limited, saying,
“DAE is one of the major players in the global aviation industry. We are honored to have supported DAE as global coordinator of this historic transaction. “We look forward to continuing the partnership with DAE with our strong presence in the aviation sector and our competency in the Hong Kong syndication market.”
News source: Emirates News Agency
[ad_2]
