Dubai Aerospace Enterprise signs $300mn unsecured term loan
The deal was made with Bank of China (Dubai) Branch, Bank of China Limited, London Branch, and Bank of China (Hong Kong) Limited (BOC).
The loan will be allocated for general corporate purposes and will assist the company in achieving future financing requirements.
'This transaction with BOC provides us with additional liquidity to support our ongoing commitment to meeting the needs of our airline customers while maintaining a modern and efficient fleet. We are pleased to deepen our relationship with Bank of China and look forward to continuing our collaboration with the entire Bank of China group in the years ahead,' Firoz Tarapore, Chief Executive Officer of Dubai Aerospace Enterprise, said in a statement.
'Bank of China values its growing relationship with DAE and is pleased to support this strategic financing. The successful execution of this transaction reflects the strength of our global network and our ability to deliver tailored solutions that meet the evolving needs of our clients across the aviation sector. In the future, Bank of China will continue to contribute to deepening China-UAE relations and support the development of UAE enterprises,' Pan Xinyuan, General Manager of Bank of China (Dubai) Branch, added.
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