Dubai Aerospace set to raise $400 million syndicated loan - sources

Dubai Aerospace set to raise $400 million syndicated loan - sources:

"Dubai Aerospace Enterprise (DAE), a government-controlled company, is raising a $400 million loan arranged by Ahli Bank of Kuwait, sources familiar with the matter said.

DAE has become one of the world’s largest aircraft lessors after acquiring Dublin-based AWAS last year. The acquisition tripled the Dubai aircraft leasing and maintenance company’s portfolio to about 400 aircraft worth more than $14 billion.

The new loan, which is being syndicated to banks, includes a revolving credit facility and a working capital facility. It could be increased to $600 million, one of the sources said."



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