Middle East

Bahri mulls bond issuance

Doha: The National Shipping Co of Saudi Arabia (Bahri) is considering a debut Islamic bond issue to help refinance debt taken on for its $1.3bn acquisition of Saudi Aramco’s shipping line, Vela, last year,

Bahri took a one-year bridging loan of 3.2bn riyals last year to fund the takeover which has catapulted the firm to become the fourth largest VLCC owner in the world.  [22/08/13]

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