Dubai's DAE signs US$300 million term loan with China Construction Bank

Dubai Aerospace Enterprise (DAE) Ltd, today signed a 4-year unsecured financing deal with a value of $ 300 million with the China Construction Bank (DIFC Branch) and the China Construction Bank Corporation (asia) limited.with the possibility of increasing the main amount of the loan to $ 500 million and this transaction will support the company's future financing needs .

Firoz Tarapore, Chief Executive Officer of DAE said: “We are delighted to start the new year 2020 with a meaningful and sizeable transaction with the DIFC branch of one of the world’s leading banking organizations. We look forward to deepening our relationship with CCB in the future.”

DAE signs new US$300 million 4-year unsecured term loanhttps://t.co/nT55e5K2tl pic.twitter.com/KjzvulT5iH

— DAE (@dubaiaerospace) January 20, 2020

Yuan Shengrui, Senior Executive Officer at China Construction Bank (DIFC Branch) said: "CCB DIFC Branch is delighted to have been given the opportunity to co-lead this successful transaction. It is a privilege to assist DAE in their financing requirements and we look forward to further collaborations in future.”

"This syndication is the first financing which CCB Group arranged for DAE, and we are pleased to have the opportunity to be involved with closing such a successful deal. It demonstrates that DAE is a well-established borrower, which commands significant interest in both Asia and Middle East banking market. We look forward to continuously leveraging on CCB’s overseas network and resources to deepen our partnership with DAE and promote closer business collaboration in the future.”

Source: (Dubai Aerospace Enterprise)