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 marine unit last year, three sources said on Sunday.
The purchase of Vela’s fleet, which cost 4.88 billion riyals ($1.3 billion), made Bahri the world’s fourth-largest owner of very large crude carriers, or VLCCs, with part of the agreement making Bahri the sole provider of VLCC crude oil shipping services to Aramco………………………………………..Full Article: Source