The 10-year sukuk debt issue will be managed by HSBC, JP Morgan and Samba capital, according to the tanker owner's vice chief executive officer for finance Mohammad Alotaibi.
The deal will be closed before the end of this month, he added, according to Reuters.
Bahri will use the cash to repay an SAR 3.18bn bridging loan that allowed it to complete its takeover of compatriot VLCC owner Vela.
The
