DAE Bolsters Liquidity Strength With New Financing Actions
Mohammad Ali (@ChaudhryMAli88) Published October 20, 2021 | 01:30 AM
(UrduPoint / Pakistan Point News / WAM - 20th Oct, 2021) DUBAI, 19th October 2021 (WAM) - Dubai Aerospace Enterprise (DAE) Ltd, the global aviation services company, today announced financing actions that further enhance the company’s liquidity strength: US$780 million of new Senior Unsecured Term Financings with a weighted average maturity of 7.7 years in two transactions, each underwritten by a leading bank in the region US$800 million of 24-month revolving credit facility maturity extensions from 2023 to 2025 Firoz Tarapore, Chief Executive Officer of DAE, stated, "These new financings and facility extensions underscore DAE’s commitment to maintaining exceptional liquidity and a strong balance sheet as we navigate challenging trends in the aviation industry.
This, combined with the diversity of our approximately 400 lender and investor relationships, has allowed us to operate confidently during the period.
"Our capital strength along with capital from our managed asset mandates has allowed us to provide in excess of US$3 billion of purchase commitments to our airline clients and OEMs during the pandemic."
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
Pak-US officials engage to enhance trade, investment ties
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
3 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
6 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
6 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
6 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
6 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
6 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
6 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
6 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
6 months ago -
SIBF turns spotlight on remarkable contributions of women
6 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
6 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
6 months ago