Saudi vessel owner and operator Bahri has signed a landmark Murabaha Financing Agreement with Alinma Bank to secure financing to support its fleet modernisation program.
Under the terms of the facility agreement, Alinma Bank will extend a credit facility worth US$ 756 million (SAR 2.835 billion) to partially finance the purchase of nine VLCCs, intended as part of a process of phasing out older vessels.
Commenting on the agreement, Basil Abulhamayel, Chief Financial Officer at Bahri, said: “The...
https://www.themaritimestandard.com/bahri-signs-finance-agreement-with-alinma-bank/