UAE Business: Shuaa secures $160m SOFR-based LBO from NBF, Apicorp – Gulf Digital News

UAE Business: Shuaa secures $160m SOFR-based LBO from NBF, Apicorp – Gulf Digital News

Shuaa Capital has completed its leveraged buyout (LBO) of Allianz Marine and Logistics Services with $160 million Secured Overnight Funding Rate-based (SOFR) acquisition finance facility from National Bank of Fujairah (NBF) and Apicorp.

The transaction includes a seven-year interest rate swap (IRS) with NBF to hedge rate exposure.

Shuaa, a leading asset management and investment banking platform in the region, has won the financiers' confidence in the regional offshore support vessels (OSV) sector and its strong sponsor credentials.

Largest SOFR

The facility is one of the largest SOFR-based facilities of its size for an LBO transaction in the region. Allianz’s financing is also one of the few corporate credit facilities in the Middle East with Term SOFR as benchmark pricing.

A leading maritime logistics player, Allianz operates the largest fleet of approximately 117 owned and chartered OSVs in the Middle East, including a combination of Platform Supply Vessels (PSV), Anchor Handling Tug Supply vessels (AHTS), crew boats, accommodation barges, and flat barges. The company also provides full suite of maritime services such as vessel chartering, port logistics, and crew services to clients including leading international and national oil companies and offshore construction contractors.

The acquisition of Allianz is Shuaa managed fund’s second strategic investment in the