Qatar's Nakilat seals $662m loan refinancing deal

  • Share via facebook
  • Tweet this
  • Bookmark and Share

LNG shipper Maran Nakilat Co Ltd has sealed a loan refinancing deal worth $662.4m, allowing it to proceed with an expansion of its LNG carrier fleet to six ships from four, one of its parent companies has said.

Qatar Gas Transport Co, commonly known as Nakilat, said the deal had also increased its shareholding in the company, a joint venture with Greece-based Maran Ventures Inc but gave no details of the ownership structure of the company either before or after the change.

The vessels being added to Maran Nakilat's fleet are already under construction in Korea, the company said. Delivery is scheduled for early 2014.

Qatar Islamic Bank and Barwa Bank funded the refinancing, which takes Nakilat's total fleet size to 56 LNG vessels, it added.

Earlier this month, Nakilat signed a $917m loan refinancing deal with Qatar National Bank

The company will post second-quarter earnings on July 14. It reported a flat net profit for the first quarter in April.

Related:
Topics

Market Performance

Qatar Gas Transport Company
22.1
-0.2 -0.9 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Shuttered banks, ATM queues and $77 daily limits: Greece plunges into crisis

Shuttered banks, ATM queues and $77 daily limits: Greece plunges into crisis

Breakdown in talks between Athens and its creditors plunged the...

Malaysia fund's $4.5bn rescue may weigh on Abu Dhabi's IPIC

Malaysia fund's $4.5bn rescue may weigh on Abu Dhabi's IPIC

International Petroleum Investment Co came to the aid of Malaysia...

Debt market beckons as Saudi bourse opens to foreigners

Debt market beckons as Saudi bourse opens to foreigners

Corporate bond issuance in the kingdom is the most active in...

Most Discussed