Dutch firm signs groundbreaking murabaha with Bahrain's FEB
Special situations investment company Sapinda has obtained a €25m murabaha facility for its subsidiary Kore Coal Finance — the first ever Islamic deal for a Netherlands based company, according to EuroWeek's Islamic Finance Information Service.
Kore Coal, which owns coal mining assets in South Africa, signed the Islamic facility with Bahrain’s First Energy Bank. The deal adds to a recent €55m that Kore raised through a conventional profit participation note.
Kore has agreed to repay the murabaha facility by October 2016. The company
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