Shuaa Capital completes its acquisition of Allianz Marine Services

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According to a press release, this facility is one of the largest Existing facilities On the secured Overnight Financing Rate (SOFR) in the area of ​​acquisition financing in the region, what is considered financing "Allianz" One of the few corporate credit facilities in the Middle East whose indicative rate is linked to a fixed-term Secured Overnight Financing Rate (SOFR).

As part of this deal, Shuaa’s managed fund also obtained a 7-year interest rate swap from the National Bank of Fujairah, in a move to hedge against interest rate risks.

Working "Allianz" in the sector logistics The Navy with the largest fleet in the Middle East, comprising 117 owned and chartered offshore support vessels. The company’s fleet includes a mixture of ships Supplying platforms, mooring tugboats, crew boats, marine housing barges, flat barges, etc.

The acquisition of "Allianz" Shuaa Al Madar Fund’s second strategic investment in the offshore support vessel sector after the acquisition of "Stanford Marine"Dubai-based company specialized in operating marine support vessels, which has been one of the most prominent pioneers in the sector in the region for more than twenty years.

After a deal "Allianz" Finally, the Shuaa Managed Fund portfolio now includes 152 offshore support vessels, making its fleet the largest in the region and the fourth in the world. Shuaa expects to realize significant benefits from the synergies of the two companies’ businesses in terms of revenues and costs, in addition to the growth of the economic volume on an annual basis.

Jassim Al Seddiqi, CEO of Shuaa Capital Group, said in the statement that the deal is a perfect example of the two sides’ commitment to supporting the growth of regional giants. Our adoption of SOFR-based financing reflects our flexibility and high ability to quickly adapt to new trends in the financing markets.".

On his part, Neil Robertson-Jones, Head of Corporate Banking at National Bank of Fujairah said: "This is the second deal of its kind in the offshore support vessel sector, which is being implemented by the Energy and Marine Services Department of the National Bank of Fujairah, in cooperation with Shuaa. This step comes as a confirmation of our solid and continuous relationship with Shuaa, which also reflects our great confidence in the ability of "Allianz" To seize growth opportunities in the offshore oil and gas sector, in line with our strategic priorities".

On his part, Nicholas Tivino, Managing Director of Project Finance and Trade at "APICORP" Its high quality asset base "Allianz"And the important support it provides to the offshore support vessel sector in terms of developing offshore exploration and production activities in the region, is a valuable addition to our growing portfolio of investments with a tangible impact on the sector.

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According to a press release, this facility is one of the largest Existing facilities The SOFR is one of the few corporate credit facilities in the Middle East whose indicative rate is linked to the fixed-term SOFR.

As part of this deal, Shuaa’s managed fund also obtained a 7-year interest rate swap from the National Bank of Fujairah, in a move to hedge against interest rate risks.

Allianz operates in the . sector logistics The Navy with the largest fleet in the Middle East, comprising 117 owned and chartered offshore support vessels. The company’s fleet includes a mixture of ships Supplying platforms, mooring tugboats, crew boats, marine housing barges, flat barges, etc.

The acquisition of Allianz is the second strategic investment of the Shuaa Managed Fund in the offshore support vessel sector after the acquisition of the Dubai-based Stanford Marine Group, which is one of the most prominent pioneers in the sector in the region for more than twenty years.

Following the recent Allianz deal, the Shuaa Managed Fund portfolio now includes 152 offshore support vessels, making its fleet the largest in the region and the fourth in the world. Shuaa expects to realize significant benefits from the synergies of the two companies’ businesses in terms of revenues and costs, in addition to the growth of the economic volume on an annual basis.

Jassim Al Seddiqi, CEO of Shuaa Capital Group, said in the statement that the deal is a perfect example of the two sides’ commitment to supporting the growth of regional giants. Our adoption of SOFR-based financing reflects our flexibility and high ability to quickly adapt to new trends in the financing markets.”

For his part, Neil Robertson-Jones, Head of Corporate Banking at National Bank of Fujairah, said: “This is the second transaction of its kind in the offshore support vessel sector that the Energy and Marine Division of National Bank of Fujairah is implementing in cooperation with Shuaa. This step confirms our solid and continuing relationship. With Shuaa, which also reflects our great confidence in Allianz’s ability to seize growth opportunities in the offshore oil and gas sector, in line with our strategic priorities.”

In turn, Nicholas Tivino, Managing Director of Project Finance and Trade at APICORP, said that Allianz’s high-quality asset base, and the important support it provides to the offshore support vessel sector in terms of developing offshore exploration and production activities in the region, is a valuable addition to our growing portfolio of Investments with a significant impact on the sector.

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