File picture of 'Gulf Eyadah', which had a two-year contract with Gulf Navigation. Image Credit: Gulf News Archive

Dubai: the deal flows are still going through In the UAE's financial landscape. Shuaa Capital, the asset management company, is lead arranger on the Gulf Navigation Holding Dh125 million sukuk that is to be raised through a private placement.

Gulf Navigation owns and operates six chemical tankers, two livestock carriers, four crew-boats and one well-stimulation vessel. Client base includes SABIC and Schlumberger. The shipping company trades on Dubai Financial Market.

"Our strategic focus combined with core strengths in investment solutions provide us with the resilience needed to continue creating value for our clients and shareholders, even during these challenging times,” said Jassim Alseddiqi, CEO of Shuaa Capital.

Shuaa, In Its first post-merger annual results, reported a 2019 EBITDA (earnings before interest, tax, depreciation and amortisation) of Dh186 million. This includes the merger costs.

Shuaa went In for a merger with ADFG (Abu Dhabi Financial Group) last year.