Akij Shipping
Sector: Seaport • Location: Bangladesh
Source: International Finance Corporation (IFC)
The proposed investment (“Investment”) consists of a 10-year, upto US$90 million senior secured facility to Akij Carriers Limited and Akij Sea Line Limited (the “Companies” or the “Borrowers”), affiliated to Akij Shipping Line Limited (“Akij Shipping” or “ASLL”), a large, diversified conglomerate owned by Mr. Sheikh Jasim Uddin and his family (the “Promoter”). The Investment shall be for financing
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Participants
Sponsoring Agency | Obfuscated Data |
Company | Obfuscated Data |
Status
Original status | pending |
Taiyo status | Obfuscated Data |
Taiyo last update | 00-00-0000 |
Available timestamps | 00-00-0000 |
Available timestamp type | Obfuscated Data |
Contact
Contact name | Obfuscated Data |
Phone | 0000000000 |
ObfuscatedData@email.com | |
Address | Obfuscated Data, Obfuscated data, obfuscated data, Obfuscated data |
Description
Description | The proposed investment (“Investment”) consists of a 10-year, upto US$90 million senior secured facility to Akij Carriers Limited and Akij Sea Line Limited (the “Companies” or the “Borrowers”), affiliated to Akij Shipping Line Limited (“Akij Shipping” or “ASLL”), a large, diversified conglomerate owned by Mr. Sheikh Jasim Uddin and his family (the “Promoter”). The Investment shall be for financing the acquisition of 3-4 second-hand ultramax bulk carriers and will support the Company’s fleet renewal, decarbonization and expansion program (the “Project”). The facility will be structured as an A loan of up to US$60 million and B1 loans of up to US$30 million. The shipping business is across eight entities based in Bangladesh, Singapore & UAE and currently operates 10 dry bulk vessels. All of these ships are managed and chartered by Akij Shipping Lines Pte Ltd (Akij Shipping Singapore). |
Original sub-sector | Obfuscated |
Original Currency | USD |
Original budget | 000000000000000 |
Procurement method | Obfuscated Data |
Budget | 000000000000000 |
Location
Region | Obfuscated |
Country | Obfuscated |
State | Obfuscated Data |
County | Obfuscated |
Location | Obfuscated Data, Obfuscated data, obfuscated data, Obfuscated data |
Source
Source reliability | High |
Data quality score | 100% |
Source | Obfuscated Data |
URL | obfuscated_data,obfuscateddata.com |
More Details
Project Type | Obfuscated Data |
Article Published Date | Obfuscated Data |