emirates7 - SHUAA, through its wholly owned Fund Manager, executes a seven-year SOFR-based debt facility from NBF and The Arab Energy Fund (TAEF) for its marine investments
Financing optimizes the marine portfolio’s debt structure on account of the business’s outperformance and creates a single financing facility for SHUAA’s Stanford and Allianz marine units, including an accordion to support acquisition of more vessels
Transaction improves liquidity at the fund-level, for its general corporate purposes, including fund management fees payable to SHUAA.
It also underscores financiers' confidence in SHUAA’s strong sponsor credentials and the outperformance of the marine units under SHUAA
As the largest OSV platform in the region and the fourth largest in the world by number of vessels, Stanford and Allianz marine units are fully integrated and on path of continued growth given the positive outlook for the offshore support vessel (“OSV”) sector
United Arab Emirates-SHUAA Capital psc (DFM: SHUAA), the leading asset management and investment banking platform in the region, today announced the execution of a new financing facility for its OSV operations under Stanford Marine Group (“Stanford”) and Allianz Marine and Logistics Services Holding Limited (“Allianz”) that are held via a SHUAA-managed fund. The Fund, domiciled in Abu Dhabi Global Market (ADGM) and referred to as the “SHUAA-managed fund”, is managed by SHUAA GMC Limited, a wholly owned FSRA-regulated subsidiary of SHUAA.
The business executed a seven-year finance facility of up to USD 300 million from National Bank of Fujairah (“NBF”) and The Arab Energy Fund (“TAEF”), formerly known as APICORP, a leading multilateral impact financial institution focused on the MENA energy sector. The deal is expected to be completed in the coming days subject to closing procedures.
Owed to the quality and outperformance of SHUAA’s OSV platform, the financing facility is one of the largest Secured Overnight Funding Rate (“SOFR”) based facilities for the OSV sector in the region. As a single facility across the Stanford and Allianz OSV operations, acquired by the SHUAA-managed fund in 2020 and 2022 respectively, it further integrates the two units and provides support for continued growth of the businesses.
Wafik Ben Mansour, Chief Executive Officer of SHUAA Capital, said: "We thank our banking partners NBF and TAEF for their continued support to our OSV portfolio. Standford and Allianz are leaders in their market, with a significant track record of profitable growth and value creation. We look forward to working with management and all stakeholders to further develop Stanford and Allianz businesses and contribute to the long-term growth of the offshore oil & gas industry in the UAE and the region.
Adnan Anwar, Chief Executive Officer of National Bank of Fujairah, said: “This deal is testament to the strong relationship we have built with SHUAA, while also reflecting our confidence in the strength of both Stanford and Allianz and their ability to capitalize on growth opportunities.”
Nicolas Thevenot, Chief Banking Officer at TAEF, said: "This financing marks a strategic milestone in our commitment to strengthening the energy value chain in the MENA region. As the largest OSV platform in the region and a key enabler of offshore exploration and production, Stanford and Allianz play a critical role in supporting the region’s energy security. Partnering with SHUAA and NBF reinforces our confidence in the platform’s continued growth and underscores our focus on impact-driven financial solutions that long-term value. By optimizing capital structures for high-performing assets, we continue to drive financial resilience and operational excellence across the sector."
Financing optimizes the marine portfolio’s debt structure on account of the business’s outperformance and creates a single financing facility for SHUAA’s Stanford and Allianz marine units, including an accordion to support acquisition of more vessels
Transaction improves liquidity at the fund-level, for its general corporate purposes, including fund management fees payable to SHUAA.
It also underscores financiers' confidence in SHUAA’s strong sponsor credentials and the outperformance of the marine units under SHUAA
As the largest OSV platform in the region and the fourth largest in the world by number of vessels, Stanford and Allianz marine units are fully integrated and on path of continued growth given the positive outlook for the offshore support vessel (“OSV”) sector
United Arab Emirates-SHUAA Capital psc (DFM: SHUAA), the leading asset management and investment banking platform in the region, today announced the execution of a new financing facility for its OSV operations under Stanford Marine Group (“Stanford”) and Allianz Marine and Logistics Services Holding Limited (“Allianz”) that are held via a SHUAA-managed fund. The Fund, domiciled in Abu Dhabi Global Market (ADGM) and referred to as the “SHUAA-managed fund”, is managed by SHUAA GMC Limited, a wholly owned FSRA-regulated subsidiary of SHUAA.
The business executed a seven-year finance facility of up to USD 300 million from National Bank of Fujairah (“NBF”) and The Arab Energy Fund (“TAEF”), formerly known as APICORP, a leading multilateral impact financial institution focused on the MENA energy sector. The deal is expected to be completed in the coming days subject to closing procedures.
Owed to the quality and outperformance of SHUAA’s OSV platform, the financing facility is one of the largest Secured Overnight Funding Rate (“SOFR”) based facilities for the OSV sector in the region. As a single facility across the Stanford and Allianz OSV operations, acquired by the SHUAA-managed fund in 2020 and 2022 respectively, it further integrates the two units and provides support for continued growth of the businesses.
Wafik Ben Mansour, Chief Executive Officer of SHUAA Capital, said: "We thank our banking partners NBF and TAEF for their continued support to our OSV portfolio. Standford and Allianz are leaders in their market, with a significant track record of profitable growth and value creation. We look forward to working with management and all stakeholders to further develop Stanford and Allianz businesses and contribute to the long-term growth of the offshore oil & gas industry in the UAE and the region.
Adnan Anwar, Chief Executive Officer of National Bank of Fujairah, said: “This deal is testament to the strong relationship we have built with SHUAA, while also reflecting our confidence in the strength of both Stanford and Allianz and their ability to capitalize on growth opportunities.”
Nicolas Thevenot, Chief Banking Officer at TAEF, said: "This financing marks a strategic milestone in our commitment to strengthening the energy value chain in the MENA region. As the largest OSV platform in the region and a key enabler of offshore exploration and production, Stanford and Allianz play a critical role in supporting the region’s energy security. Partnering with SHUAA and NBF reinforces our confidence in the platform’s continued growth and underscores our focus on impact-driven financial solutions that long-term value. By optimizing capital structures for high-performing assets, we continue to drive financial resilience and operational excellence across the sector."