Cairo - Mubasher: Maridive and Oil Services said it has signed a credit facility agreement amounts to $225 million with Abu Dhabi Islamic Bank (ADIB).
The company will use the loan in restructuring current credit facilities and financing the purchase of new marine units.
The firm will also borrow $25 million to finance the operating capital.
The interest rate per this loan is 4.5%, noting that 55% of the loan would be paid over seven years, while the remaining 45% will be paid as lump sum by the end of the loan duration.
The company reported earlier, million net profits of $5.46 million for the first nine months of 2015, down 50.7% from $11.1 million a year earlier
