Saudi shipping firm Bahri fully redeems $1.04bn sukuk

RIYADH: Bahri, formally known as the National Shipping Co. of Saudi Arabia, has announced the full redemption of its SR3.9 billion ($1.04 billion) Riyal-denominated sukuk on July 30.

The Saudi-listed company said in a bourse filing it expects the transaction to impact its financial statements for the ongoing quarter.

Bahri, 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.