Egyptian marine services firm Maridive and Oil Services has obtained a $150 million syndicated loan using an ijara (Islamic leasing) structure, the first of its kind in Egypt, said the legal advisor on the deal.
The Maridive loan
Egypt's Maridive and Oil Services said on Monday it won contracts to build two vessels in a Chinese shipyard and had cancelled two jobs in India.
The oil services firm, the biggest in the Middle East by fleet size, said in a statement
Maridive & Oil Services (MOS), the largest marine offshore oil and gas service provider based in Egypt and the Middle East, has revealed that its private placement has been oversubscribed 31.2 times.
Applications worth of $7.43 billion