Sanad Capital, an entirely owned subsidiary of Mubadala Investment Company and a global pioneer in aerospace engineering and leasing services, has closed a $55 million debt financing contract with the Commercial Bank of Dubai (CBD), one of the UAE's most prestigious financial institutions.

Sanad Capital and the Commercial Bank of Dubai have partnered for the first time to finance the purchase of two new GEnx and XWB engines, which were recently bought through a long-term sale and leaseback deal.

“Our collaboration with the Commercial Bank of Dubai is a strong confirmation of Sanad Capital's ability to attract liquidity that supports growth goals, particularly in the daunting current scenario.  As a part of Sanad's ongoing commitment to support the global aviation industry, we look forward to our relationship with the Commercial Bank of Dubai,” said Troy Lambeth, Group CEO of Sanad Capital.

“We are happy to collaborate with Sanad and help them as they look to develop and grow their business.  Sanad Capital has a strong track record in the aircraft engine and component leasing industry, and we are looking forward to enhancing our partnership and assisting them in their future growth,” said Dr. Bernd van Linder, CBD's Chief Executive Officer. 

Sanad Capital introduced a new contract with Etihad Airways at last year's Global Aerospace Summit in Abu Dhabi, bringing the duo's current collaboration investments to more than $900 million. The new arrangement involves a sale-and-leaseback (SLB) contract for an extra GEnx engine and a Rolls Royce Trent XWB engine, as well as a second XWB spare option.