Gulf Oil and Gas accountACCOUNT

National Petroleum Services Signs $200m Financing Deal

Source: Reuters 2/15/2015, Location: Middle East

Dubai-based oilfield services firm National Petroleum Services (NPS) has secured a $200 million refinancing deal from a group of banks and financial institutions, Arab Petroleum Investments Corp (APICORP), one of the participants, said.

APICORP said in a statement that HSBC , Emirates NBD and Abu Dhabi's Al Hilal Bank were also participating in the deal which includes a $150 million fixed rate Islamic facility and $50 million to be used by the company for working capital.

The interest rate and lifespan of the facilities were not disclosed in the statement, although NPS CEO Adnan Ghabris was quoted as saying in the statement that the cash would help fuel NPS' growth over the next five years.

The statement added the refinancing "offers the company better terms and will positively impact the company's bottom line".

APICORP was part of a consortium of Gulf-based investors that also included Fajr Capital which last year agreed to acquire NPS in a deal valued "in excess of $500 million".

Financials and Investment News in United Arab Emirates >>

China >>  6/10/2019 - ENOC Group has secured a five-year US$690 million term loan from a Chinese consortium of banks as China’s biggest financial institutions endorse the G...
Australia >>  5/30/2019 - Wood and NERA (National Energy Resources Australia) have announced a new funding partnership arrangement led by Wood, in collaboration with the Univer...

United Kingdom >>  5/26/2019 - The Board of Directors of Atlantic Petroleum has agreed with NASDAQ for a temporary suspension of the company’s shares. The Company advises that Graem...
Morocco >>  5/22/2019 - Sound Energy, the Moroccan focused upstream gas company, is pleased to provide an update on its strategy and operations. ...

Azerbaijan >>  1/29/2019 - SOCAR contributed AZN 1.65 billion to the State Budget for 2018. Compared with the previous year’s figures, the company's budget payments grew by AZN ...
Egypt >>  9/25/2014 - Egypt's state-run Egyptian General Petroleum Corporation (EGPC) declared that Egypt received a share of the foreign partner’s oil and gas revenues of ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United Arab Emirates Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.