Nakilat joint venture secures $662mn Islamic refinancing deal for its fleet expansion

Posted by on Jul 3rd, 2013 and filed under Islamic Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Maran Nakilat Company, a joint venture between Nakilat and Maran Ventures, has secured $662.4mn Islamic refinancing. At a ceremony held in Doha, Maran Nakilat signed the Murabaha refinancing agreement with Qatar Islamic Bank (QIB) and Barwa Bank. With the refinancing, Maran Nakilat will be able to expand its fleet of LNG carriers from four vessels to six, with the delivery of two new carriers scheduled for early 2014. At the same time, Nakilat has also increased its ownership of Maran Nakilat Company. Latham & Watkins advised Maran Nakilat on commercial and legal matters related to the refinancing, while Allen & Overy advised QIB and Barwa Bank.


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