Bahri completes SAR 986M refinancing agreement

National Shipping Company of Saudi Arabia (Bahri) completed today, Sept. 15, a SAR 986.3 million ($263 million) refinancing agreement with BNP Paribas and National Bank of Greece.

In a statement to Argaam, the company said the agreement marks its first unsecured international bank financing, reducing the group’s reliance on asset-backed debt and enhancing its financial flexibility.

The agreement is also the first step toward managing financing at the group level, as part of its strategy to build a more efficient and flexible balance sheet, diversify funding sources, and reinforce future growth and expansion.