FINANCIAL NEWS

Oman Shipping Co. raises USD227mn to finance 10 range tankers

03 Mar 2017

(MENAFN) Oman Shipping Co., wholly owned by the Sultanate of Oman raised USD227mn to finance its purchase of 10 new medium range tankers.

Furthermore, Societe Generale acted as sole arranger and sole underwriter for the landmark transactions, which included a combination of export credit agency.

Additionally, the funding comprised the purchase of 10 50.000 dwt medium-range tankers, built by Hyundai Heavy Industries of S. Korea.

Accordingly, at the start the firm set a number of objectives that had to be fulfilled, involving finding one single bank to assist them in raising financing for the acquisition of 10 vessels.

MENAFN0303201700450000ID1095283310

MENAFN0303201700450000ID1095283310

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