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Dubai Aerospace Enterprise Limited closes $800m term loan and revolving credit facilities

United Arab Emirates: Sunday, January 18 - 2009 at 10:27
PRESS RELEASE

Dubai Aerospace Enterprise (DAE) LTD, confirmed today that it has closed an $800m equivalent Term Loan and Revolving Credit Facilities jointly arranged by Citibank N.A., Deutsche Bank AG, Emirates Bank International PJSC (an Emirates NBD Company), Lloyds TSB Bank Plc and an Islamic tranche managed by Noor Islamic Bank.

The tenor of the Facility is three years and will be used for DAE's general corporate purposes.

DAE is a global aerospace engineering, manufacturing, services corporation that represents an important strategic investment for the Government of Dubai as well as its indirect shareholders, who are among Dubai's most significant and important organisations including Investment Corporation of Dubai, Dubai Silicon Oasis, DIFC Investments, Istithmar World, Emaar, Amlak and Dubai International Capital.

H.E. Dr. Omar bin Suleiman, DAE Group Managing Director, said:

"This Facility will allow DAE to continue its impressive growth into a world-class global aerospace business. DAE is determined to support Dubai's continued emergence as a globally renowned aerospace centre and aviation hub."

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Related site: http://www.dubaiaerospace.com

Notes and media contacts

For further information contact:
DAE Corporate Press Office
Munther Juma : +971 4 4289 544
Dana Salloum: +971 50 651 9672

Posted by Nadeen El Ajou
Sunday, January 18 - 2009 at 10:27 UAE local time (GMT+4)

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Dubai Aerospace Enterprise Limited closes $800m term loan and revolving credit facilities

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