Investment platform Shuaa Capital secured a USD 300 mn seven-year facility from the National Bank of Fujairah and the Arab Energy Fund, according to a DFM disclosure (pdf). The secured overnight funding rate-based facility is expected to be completed in the upcoming days subject to closing procedures.

Where will the money go? The debt instrument will be used to develop the offshore service vessel operations of Shuaa’s second-tier subsidiaries, owned by the Shuaa Managed Fund, Stanford Marine Group, Allianz Marine, and Logistics Services Holding. This loan will also be used to optimize the debt structure of Shuaa’s marine portfolio, acquire more marine vessels, and improve liquidity at the fund level.

REMEMBER- Shuaa has more debt instruments in the pipeline, as it will vote on the issuance of AED 425.5 mn in convertible bonds and their conversion into shares during a general assembly meeting on 3 February, following approval from its board of directors last year. This issuance serves as a part of the firm’s plan to issue a total of AED 642.5 mn in mandatory convertible bonds for capital optimization.

It’s all part of a correctional plan: The company went through restructuring in 2024 after reaching an agreement with bondholders to extend the payment terms for USD 150 mn worth of bonds, appointing a new management team, and settling around AED 500 mn in margin facilities. It also finalized an agreement with its senior creditor to restructure AED 208 mn in outstanding facilities.

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