Dubai Aerospace Enterprise (DAE) has signed a $300 million 3-year unsecured term loan with Bank of China's Dubai, London, and Hong Kong branches. The loan will be used for general corporate purposes and will support the future needs of the business.
“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,” said DAE CEO Firoz Tarapore. "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.”
Bank of China Dubai branch general manager Pan Xinyuan said: “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.”