Sanad Capital has closed a US$ 55 million debt financing deal with the Commercial Bank of Dubai.ÿThe first-ever collaboration between Sanad Capital and the Commercial Bank of Dubai will fund the purchase of two new GEnx and XWB engines that were recently acquired through a long-term sale and leaseback agreement.

Troy Lambeth, Group CEO, Sanad said: ?Our partnership with the Commercial Bank of Dubai is a strong validation of Sanad Capital?s ability to attract liquidity that supports growth targets, especially in the challenging current environment.ÿWe look forward to growing our relationship with the Commercial Bank of Dubai as part of Sanad?s ongoing commitment to support the global aviation industry in years to come.?

Dr. Bernd van Linder, Chief Executive Officer, CBD said: ?We are delighted to partner with Sanad and support them as they look to grow and expand their business. Sanad Capital has an exemplary performance track record in the aircraft engine and component leasing space, and we look forward to strengthening our relationship and facilitating their future expansion as well.?