DAE Secures $800 million in Loans and Credit
Dubai Aerospace Enterprise (DAE) has arranged $800 million in loans and revolving credit to fund “general corporate purposes.” The fresh capital, available

Dubai Aerospace Enterprise (DAE) has arranged $800 million in loans and revolving credit to fund “general corporate purposes.” The fresh capital, available on a three-year term, has come from a group of banks including Citibank, Deutsche Bank, Emirates Bank International, Lloyds TSB Bank and Noor Islamic Bank.

Since its establishment in 2006, DAE has made a succession of investments in areas such as aerospace engineering, aircraft maintenance and leasing as part of its goal to develop a $15 billion portfolio. The company draws support from state-backed investors including the Investment Corporation of Dubai, Dubai Silicon Oasis, DIFC Investments, Istithmar World, Emaar and Dubai International Capital.