Dubai Aerospace Enterprise Ltd. is seeking a seven-year loan worth the equivalent of $2.1 billion for general working capital, Bloomberg reported on October 14, 2026, citing people familiar with the matter. The financing has not been completed.
The facility is expected to have two tranches: one in US dollars and one in UAE dirhams. Bloomberg's report said terms were still being negotiated. No completion deadline has been announced.
Five banks were named as mandated lead arrangers and bookrunners. Bank of China and Emirates NBD are among them. Oversea-Chinese Banking Corporation, known as OCBC, is also involved. Industrial and Commercial Bank of China, or ICBC, was named as well. China Construction Bank (Asia) completes the group. The banks are coordinating the loan structure and lender order book.
Indicative pricing stands at 110 basis points over the Secured Overnight Financing Rate, or SOFR, for the dollar tranche. The dirham portion is priced at 95 basis points over the Emirates Interbank Offered Rate, or EIBOR, Zawya reported, citing Bloomberg. Those margins are preliminary. Final borrowing costs will depend on the agreed terms and how the loan is allocated between currencies.
Investment Corporation of Dubai, the emirate's state investment holding company, owns DAE. The company leases aircraft and provides aviation engineering services. It also manages aviation assets, Reuters reported. The proposed financing is for general working capital.
Asian banks have expanded their lending across the Middle East. They provided regional borrowers with more than $17 billion in 2025, a record and about three times the 2024 total, Bloomberg reported.
Among comparable deals, four major Chinese banks provided QatarEnergy with a $3 billion loan. Kuwait's Boubyan Bank secured a $300 million facility involving Asian and international lenders.
DAE's major strategic expansions have included its acquisition of Macquarie AirFinance, valued at about $7 billion in industry materials. The proposed $2.1 billion loan is being raised for working capital.
The corporate borrowing differs from equity-pitching opportunities covered in Shark Tank Dubai coverage, which focused on SME founders seeking investment from investors.
