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flydubai secures USD 500 million Term Financing Facility

Dubai Aviation Corporation, (trading as "flydubai") successfully completed a USD 500 million 5-year Term Financing Facility on 14 November, 2019.

Emirates NBD Capital Limited (“EMCAP”) and Noor Bank PJSC have acted as Global Coordinators and Emirates NBD Bank PJSC and Noor Bank PJSC have jointly underwritten the transaction. The Facility was subsequently launched to a general syndication on 18 November 2019.

Emirates NBD Capital Limited (“EMCAP”) Noor Bank PJSC and Dubai Islamic Bank PJSC were the Mandated Lead Arrangers and Bookrunners.

The Facility will be utilised towards refinancing the carrier’s first landmark Sukuk issued in 2014, which matures on 26 November 2019.

Ahmed Al Qassim, Senior Executive Vice President & Group Head, Corporate & 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, Chief Executive Officer at flydubai commented: “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 USD 500 million to refinance our first Sukuk issued in 2014.”

About flydubai

From its home in Dubai, flydubai has created a network of more than 90 destinations and over the next decade the airline will see its fleet grow by up to 236 aircraft. Since commencing operations in June 2009, flydubai has been committed to removing barriers to travel, creating free flows of trade and tourism and enhancing connectivity between different cultures across its ever-expanding network.

flydubai has marked its journey with a number of milestones that represent the scale of the ambition planned for the airline:

  • An expanding network: Created a network of more than 90 destinations in 48 countries across Africa, Central Asia, the Caucasus, Central and South-East Europe, the GCC and the Middle East, and the Indian Subcontinent.
  • Serving underserved markets: Opened up more than 65 new routes that did not previously have direct air links to Dubai or were not served by a UAE national carrier from Dubai.
  • An efficient single fleet-type: Operates a single fleet-type of 55 Boeing 737 aircraft. 
  • Record-breaking orders: Placed the largest single-aisle aircraft orders in the region at the 2013 and 2017 editions of the Dubai Airshow.
  • Enhancing connectivity: Carried more than 75 million passengers since it began operations in 2009.

For all our latest news, please visit the flydubai Newsroom.

flydubai
Dubai Aviation Corporation, trading as “flydubai”,
Dubai International Airport,
PO Box 353,
Dubai,
UAE

For enquiries relating to your booking, please call the Contact Centre on +971 600 544 445

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