Akij Shipping
Sector: Seaport • Location: Bangladesh
Source: International Finance Corporation (IFC)
The proposed investment (“Investment”) consists of a 10-year, upto US$82 million senior secured facility to Akij Carriers Limited, Akij Sea Line Limited and Akij Drybulk 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
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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
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Address | Obfuscated Data, Obfuscated data, obfuscated data, Obfuscated data |
Description
Description | The proposed investment (“Investment”) consists of a 10-year, upto US$82 million senior secured facility to Akij Carriers Limited, Akij Sea Line Limited and Akij Drybulk 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$52 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 |
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Procurement method | Obfuscated Data |
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Location
Region | Obfuscated |
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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
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