Noor Bank leads closing of Islamic financing for Stanford Marine

Region:

Middle East & Africa

Jonathan Bell

Editor-in-chief

Dubai-headquartered offshore supply vessel company Stanford Marine Group (SMG) has secured a AED 1.2 billion ($326.7 million) Islamic syndicated structured finance facility arranged by Noor Bank. The transaction is one of the first fully Islamic-backed finance deals in the oilfield services sector.

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