Dubai Aerospace Enterprise (DAE), an aircraft lessor and engineering company owned by Dubai's sovereign wealth fund Investment Corporation of Dubai (ICD), plans to raise $2.1 billion to support its working capital needs, according to a Bloomberg report cited by Zawya.
The proposed seven-year loan will be structured in two currency tranches, consisting of one in US dollars and another in UAE dirhams, Bloomberg reported, citing an unnamed source.
The lead arrangers and bookrunners for the financing facility include Bank of China, Industrial and Commercial Bank of China (ICBC), China Construction Bank (Asia) Corp., Emirates NBD, and Oversea-Chinese Banking Corp.
Pricing expectations for the US dollar tranche are set at 110 basis points over the Secured Overnight Financing Rate (SOFR). Meanwhile, the UAE dirham portion is expected to be priced at 95 basis points over the Emirates Interbank Offered Rate (EIBOR).
Sources
- Zawya · 2026-10-14
