Qatar Navigation unit secures $425m ship financing

January 23, 2014 - 1:05:59 pm

DOHA: Qatar Shipping, a unit Qatar Navigation has secured a 12-year, 1.55 billion riyals or $425.65 million loan from a consortium of international banks, according to a bourse filing on Thursday. 

The money will be used to refinance existing debt facilities on four liquefied natural gas tankers, the statement said. 

The lending banks include Standard Chartered, Mizuho Bank and Bank of Tokyo Mitsubishi UFJ. (Reuters)