Bahri’s unit secures $328mln Murabaha facility from Samba

Bahri’s unit will use the loan in covering 80% of the cost of building 10 chemical tankers

  
Image used for illustrative purpose A French patrol boat sails next to the Bahri-Yanbu, a Saudi Arabian cargo ship, that waits to enter in the port of Le Havre, as human rights groups try to block the loading of weapons onto the vessel, France, May 10, 2019.

Image used for illustrative purpose A French patrol boat sails next to the Bahri-Yanbu, a Saudi Arabian cargo ship, that waits to enter in the port of Le Havre, as human rights groups try to block the loading of weapons onto the vessel, France, May 10, 2019.

REUTERS/Benoit Tessier
Riyadh – The National Shipping Company of Saudi Arabia (Bahri) said its 80%-owned subsidiary, National Chemical Carriers Co., has secured a Murabaha facility worth SAR 1.23 billion.

The financing, provided by Samba Financial Group, carries a maturity period of 12 years, according to a stock exchange statement on Thursday.

Bahri’s subsidiary will use the loan in covering 80% of the cost of building 10 chemical tankers with a capacity of 49,999 DWT each. The loan is guaranteed by a lien on the tankers being financed.

Source: Mubasher

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