Bahri’s unit secures $328mln Murabaha facility from Samba
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 TessierRiyadh – 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
All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
More From Islamic Finance
