Bahri signs SAR 3B Murabaha credit facility with Al Rajhi Bank

A Bahri vessel

National Shipping Company of Saudi Arabia (Bahri) signed today, Jan. 14,  a Murabaha revolving credit facility agreement worth SAR 3 billion ($800 million) with Al Rajhi Bank.

 

In a statement to Tadawul, the company said that the financing period is five years, with the amount covered by an order note.

 

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The credit will be used to support and strengthen Bahri’s financial position and cover the working capital and CAPEX requirements.

 

No related parties are included in the deal, the statement noted.

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