Flydubai nets $500m financing facility

Flydubai nets $500m financing facility
flydubai Boeing 737800 aircraft photo shoot Retouch
Published: 28 November 2019 - 5 a.m.
By: Aviation Business

Flydubai has secured a $500 million financing facility from Emirates NBD, Noor Bank and Dubai Islamic bank.

The facility will be used towards refinancing the carrier’s first Sukuk issued in 2014, which matured this month.

Ahmed Al Qassim, head of corporate and institutional banking at Emirates NBD, said: “The financing demonstrates our commitment towards supporting flydubai.

"As a leading financial institution in the region, our aim is to provide innovative solutions to our valued clients in order to achieve their long-term objectives.”

Ghaith Al Ghaith, CEO at flydubai said: “We continue to explore ways to further diversify our sources of funding, while at the same time optimising our cost of funding.

"We are pleased to see the healthy appetite in the market that has enabled us to successfully raise the five-year term loan for $500 million to refinance our first Sukuk issued in 2014.”

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