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RIYADH: The National Shipping Co. of Saudi Arabia, also known as Bahri, has announced its plans to issue SR3.9 billion ($1.04 billion) worth of sukuk, a Shariah-compliant bond.
The offer is intended to refinance the Saudi shipping giant’s existing sukuk which will mature later this year, according to the filing.
Bahri, which is a joint venture between Saudi Aramco and the Public Investment Fund, operates a fleet of 89 tankers and container ships that transport oil, petrochemicals, and other types of cargo.
Saudi shipping firm Bahri posts 49% surge in first-quarter profitBahri to complete $110m grain JV by 2023
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