Sanad Aerotech signs Dh422m financing agreement.

Sanad Aerotech, a maintenance, repair and overhaul (MRO) provider for aircraft engines wholly owned by Mubadala Investment Company, has signed a Dh422 million financing agreement with Mashreq Bank. Sanad Aerotech will use the new bank facilities to implement its ambitious expansion plans resulting from the significant growth in the services it provides to major airlines globally and international aerospace OEM's. "We are pleased to partner with Mashreq Bank and this successful transaction underscores the confidence that the banking community has in our business.

We are delighted to have strong support as we execute our strategy and position Sanad Aerotech for a strong future. The recognition for our credit is a testament to Sanad Aerotech's operational excellence and strong business outlook," said Kashish Kohli, CFO at Sanad Aerotech. Ahmed Abdelaal, head of Corporate and Investment Banking at Mashreq Bank, said: "We are delighted to provide a structured financing facility...