Stanford Asia Holding Company receives USD 300 million Senior Secured Financing Facility

Press release

Published September 25th, 2013 - 09:07 GMT

Al Bawaba

Stanford Asia Holding Company (“SAHC”) is pleased to announce the signing of a USD 300 million 5 year syndicated facility.

Emirates NBD Bank PJSC, Mubadala GE Capital PJSC, Noor Islamic Bank PJSC and Standard Chartered Bank were mandated as Joint Underwriters, Initial Mandated Lead Arrangers and Bookrunners on the facility.

The facility closed oversubscribed with Abu Dhabi Commercial Bank PJSC, Barwa Bank Doha Qatar and Mashreqbank psc joining as Mandated Lead Arrangers.

Standard Chartered Bank acted as Facility and Investment Agent.

The purpose of the facility was to refinance existing debt.

SAHC,a company incorporated in Cayman Island is a 100% owned subsidiary of Stanford Marine Group (“SMG” or the “Group”); which is in turn owned (indirectly) by The Abraaj Group (51%), a leading investor operating in the growth markets of Asia, MENA, Turkey and Central Asia, Sub-Saharan Africa and Latin America, and Waha Capital PJSC (49%), an Abu Dhabi based listed diversified investments holding company.

SMG serves the Oil and Gas industry and focuses on the offshore marine sector. SMG is mainly focused on owning, chartering, managing Offshore Support Vessels (OSVs) since 1997 through Stanford Marine (offshore marine division) as well as shipbuilding and repair through Grandweld (ship building / ship repair division).

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