Riyadh – Mubasher: 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.
