Maridive and Oil Services has secured a $25 million loan from Abu Dhabi Islamic Bank (ADIB) – Egypt, said a source close to the deal.
Maridive Chief Financial Officer Emad Fawzy said the facility will be used in financing the company’s investments.
In May 2013, Maridive raised $150 million syndicated financing from ADIB-Egypt, Arab African International Bank (AAIB), Arab International Bank (AIB) and Banque Du Caire, to finance the company’s new expansions, in addition to restructuring and funding its investments.