The deal will be split between an equally-sized term loan and a revolving credit facility, which are expected to be priced at around 200 basis points above libor (London interbank offered rate).
DAE was established in 2006 to build the emirate’s capabilities in aerospace manufacturing, financing, education and servicing.
In mid-July, the firm said it was buying 18 planes from Emirates Airline in a sale and leaseback deal. In the same month, Dubai Aerospace Capital, DAE's leasing arm, confirmed a $12.6bn order for 100 new Airbus planes.
The cash will be used to refinance existing debt and for continued expansion of the business.
You might also like...
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.