Sanad Aero Solutions GmbH (Sanad), a wholly-owned subsidiary of Mubadala Development Company, has increased its financings to US$600 million, in a club deal that further expands the company’s spare engine and component product offering.

Sanad has raised an additional US$90 million in financing through a consortium deal with three industry leading banks. Abu Dhabi National Leasing (ADNL), the wholly owned lease financing arm of the National Bank of Abu Dhabi (NBAD), acted as agent for the transaction joined by Bank of America Merrill Lynch (BofAML) and FGB in their first transactions with the company. The facilities provide financing for spare engines and components in support of Sanad customer programs globally.