Sun, Nov 23, 2014
A A A
Welcome bhaimia
RSS

Islamic Finance Briefing - Categorized | Finance, Market Moves more

MENAdrill raises three year Islamic financing

Posted on 09 March 2012

MENAdrill Investment Company ‘MIC’, incorporated in Cayman Islands and principally promoted by First Energy Bank ‘FEB’ has signed a 3 year $130m limited recourse islamic financing with Gulf International Bank B.S.C. ‘GIB’ as the Mandated Lead Arranger and Investment Agent for this Murabaha Facility to part finance its first rig namely ‘MENAdrill I’ which has been in operation in the Gulf of Mexico since May 2011.
GIB and FEB are jointly participating in this financing. MIC took delivery of its first rig MENAdrill I in November 2010 from Maritime Industrial Services ‘MIS’ yard in Sharjah, U.A.E. and the rig was subsequently mobilized to Mexico for operating under a contract with PEMEX, the national oil and gas company for the Government of Mexico. (Press Release)

 
Article link

This post was written by:

Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


Contact the author

Comments are closed.

banner
November 2014
M T W T F S S
« May    
 12
3456789
10111213141516
17181920212223
24252627282930