SHUAA Capital Secures USD 300 Million Financing Facility From TAEF And NBF For OSV Operations

SHUAA Capital psc has secured a new financing arrangement for its Offshore Support Vessel (OSV) operations. These operations are managed under Stanford Marine Group and Allianz Marine and Logistics Services Holding Limited, both held via a SHUAA-managed fund. This fund is based in the Abu Dhabi Global Market (ADGM) and is overseen by SHUAA GMC Limited, a fully owned subsidiary regulated by the FSRA.

The financing facility, valued at up to US$300 million, spans seven years and involves the National Bank of Fujairah (NBF) and The Arab Energy Fund (TAEF). TAEF was formerly known as APICORP and is a major financial institution focused on the MENA energy sector. The deal is anticipated to conclude soon, pending final closing procedures.

This financing represents one of the largest Secured Overnight Funding Rate (SOFR) based facilities in the regional OSV sector. It highlights the exceptional quality and performance of SHUAA's OSV platform. The single facility covers both Stanford and Allianz OSV operations, which were acquired by the SHUAA-managed fund in 2020 and 2022, respectively.

The integration of these units through this facility supports their ongoing growth. Wafik ben Mansour, CEO of SHUAA Capital, expressed enthusiasm about collaborating with management and stakeholders to advance Stanford and Allianz businesses. He emphasised their contribution to the long-term growth of the offshore oil and gas industry in the UAE and beyond.

Adnan Anwar, CEO of NBF, remarked that this agreement underscores their strong relationship with SHUAA. It also reflects NBF's confidence in Stanford and Allianz's capabilities to seize growth opportunities. Nicolas Thevenot, Chief Banking Officer at TAEF, noted that this financing marks a strategic milestone in enhancing the energy value chain within the MENA region.

The collaboration between these entities not only strengthens their individual positions but also contributes significantly to regional industry development. This move aligns with broader efforts to bolster energy infrastructure across MENA countries.

This initiative showcases how strategic financial partnerships can drive substantial growth within key sectors like offshore support vessels. By leveraging such collaborations, companies can better navigate market challenges while capitalising on emerging opportunities.

With inputs from WAM