17 OCT 2024
| Element List | Explanation |
|---|---|
| Introduction | The National Shipping Company of Saudi Arabia (Bahri) announces the completion of signing a Murabaha Financing Agreement with Alinma Bank as follows: |
| Date of obtaining the funding | 2024-10-16 Corresponding to 1446-04-13 |
| Financing entity | Alinma Bank. |
| Financing amount. | USD 756 Million (equivalent to SAR 2.835 Billion). |
| Financing duration. | 10 Years. |
| Guarantees offered for the financing | Mortgaging the purchased VLCCs. |
| Financing objective | Financing approximately 70% of the purchase value for acquiring nine (9) VLCCs, that was announced on Saudi Exchange website on 20-August-2024. |
| Related Parties | There is an indirect interest for Bahri’s Board of Directors member Dr. Abdulmalek bin Abdullah Al-Hogail, who also holds the Chairman position of the Board of Directors at Alinma Bank. |