Maridive restructures $219M loans

Updated 11/7/2022 12:50:00 PM

Arab FinanceMaridive and Oil Services (MOIL) announced that it received final approval for restructuring $219 million loans, according to a filing to the Egyptian Exchange (EGX) on Monday.

The restructured loans include two tranches. The first amounts to $110 million and the payment period thereof will start in December 2023 and end in 2028.

The second tranche amounts to $109 million and its payment period will start as soon as the first tranche’s payment period ends.

Maridive is an Egypt-based company that provides offshore marine and oil support services across the Middle East and North Africa (MENA) region.