Sanad raises over $90 million in syndicated deal

Sanad Aero Solutions has increased its financing to $600 million in a deal that will expand the company’s engine and component product offering. 

In addition, Sanad has raised another $90 million in financing through an association deal with three major banks. Abu Dhabi National Leasing (ADNL), the National Bank of Abu Dhabi, and the Bank of America Merrill Lynch (BofAML) joined for the first transaction with the company.

“This transaction is an important milestone for the company in expanding our international lender base," Sanad CEO Troy Lambeth said. "We are very pleased to extend our relationship with ADNL and to welcome BofAML and (First Gulf Bank) FGB, two additional global leaders, as partners to our growing story. The transaction serves as a further endorsement of Sanad’s asset portfolio, our team, and the strength of our business model.”

ADNL Managing Director Yousef Abdulla Yousef said he is delighted to be a part of this transaction and looks forward to ongoing work with Sanad as it grows.