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ADIB arranges a US$32 million Structured Ijara financing for Waha Maritime

(ADIB), a top-tier Islamic financial services group, has acted as Mandated Lead Arranger for the US$32 million structured Ijara facility to fund the acquisition of up to 6 Offshore Supply Vessels (OSVs) for Waha Offshore Marine Services (WOMS), the marine chartering and operations arm of Waha Maritime. The financing represents an important milestone for Waha Maritime in its expansion in the Offshore Supply Vessel (OSV) sector. Waha Maritime is a subsidiary of Waha Capital, one of the Middle East's leading diversified investment holding companies.

The facility will allow Waha Maritime to strategically expand in its business sector. One of the unique features of this deal is ADIB's ability to structure a Shari'a compliant junior finance with limited recourse through a unique Shari'a compliant Ijara structure with a combination of base profit rate and equity upside. This provides a facility tailored to meet Waha Maritime's business requirements and growth aspirations.