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Thu 23 Jan 2014 11:49 AM

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Qatar Navigation unit secures $425m ship financing

Money will be used to refinance existing debt facilities on gas tankers

Qatar Navigation unit secures $425m ship financing

Qatar Shipping, a unit Qatar Navigation, has secured a 12-year, QAR1.55bn ($425.65m) loan from a consortium of international banks, according to a bourse filing on Thursday.

The money will be used to refinance existing debt facilities on four liquefied natural gas tankers, the statement said.

The lending banks include Standard Chartered, Mizuho Bank and Bank of Tokyo Mitsubishi UFJ.

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