Gulf Marine Services (GMS) has sealed a big funding arrangement that is expected to help its growth plan.
The Abu Dhabi-based company said it has secured a new $620m debt facility, which combines Islamic and conventional financing to replace its existing facilities with no charges.
Duncan Anderson, chief executive of GMS, said: “The group is pleased to announce this substantial new debt facility, which both extends the maturity of our debt profile and has been achieved with a helpful improvement in the borrowing margins compared to our previous financing arrangements.
“This
