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Nakilat Joint Venture Signs US $669m Refinancing with QNB  Join our daily free Newsletter

MENAFN - Qatar News Agency - 30/01/2014
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(MENAFN - Qatar News Agency) Nakilat, Qatar's premier gas transporter, has secured a US 669 million facility with QNB Group, the World's Strongest Bank, for the refinancing of two existing LNG vessels and the purchase of two additional LNG vessels by its Maran Nakilat Co. Ltd. joint venture.



The agreement was signed at a ceremony held at the head office of QNB, here on Wednesday with a number of senior officials from both sides attending, Nakilat said in a press release issued here today



This is the second refinancing that Nakilat has secured for its Maran Nakilat Co. Ltd. join venture in recent month



Through the two transactions Nakilat has arranged a combined total of US 1.33 billion in refinancing for its Maran Nakilat Co. Ltd. joint ventur



Together the two transactins have allowed Nakilat to double the size of Maran Nakilat Co. Ltd.'s fleet from four vessels to eight vessels and to increase its ownership in the joint venture by 10




The two vessels being added to Maran Nakilat Co. Ltd.'s fleet are currently under construction in Korea. These vessels will carry LNG cargos from across the worl



Once delivered from the shipyards, this latest addition of two vessels to Maran Nakilat Co. Ltd.'s fleet will increase Nakilat's total LNG vessel count from 56 to 5



Upon the occasion of the signing, Eng. Abdullah Fadhalah Al Sulaiti, Managing Director of Nakilat said: "Today's signing is further confirmation of Nakilat's financial strength and of our company's ability and ongoing intention to build upon our position as a leading global transporter of LN

 


Qatar News Agency




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