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Bahri’s unit secures SAR 1.2bn Murabaha facility from Samba

Bahri’s unit secures SAR 1.2bn Murabaha facility from Samba
Bahri’s unit will use the loan in covering 80% of the cost of building 10 chemical tankers.
BAHRI
4030
0.13% 38.75 0.05
SAMBA
1090
4.62% 38.50 1.70

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.