Abu Dhabi – Mubasher: Sanad Aero Solutions, a wholly-owned subsidiary of Mubadala Investment Company, unveiled the conclusion of a new financing facility from First Abu Dhabi Bank (FAB).

The $62 million facility will be used to finance several Sanad customer programmes, including long-term pool access for up to $23 million of B787 components, supporting SR Technics component service programmes.

“We are delighted to have worked with FAB on this important transaction as they continue to be a strong banking partner for the company,” Sanad’s CEO Troy Lambeth said.

Sanad expects “more […] long-term pipeline materialise in 2019 and attaining efficient financing support from the market is a key driver in [its] approach,” Lambeth added.

Since it was founded in 2010, Sanad secured several financings from FAB to support various existing and new customer spare engine and component programmes.