According to the bank provided information, the proposed investment is a debt facility to Sonker Bunkering Company (“Sonker” or the “Project Company”), established by the Egyptian Amiral Petroleum Services S.A.E (“Amiral” or the “Sponsor”) to refinance its Liquid Bulk Terminal (“LBT”) in the Sokhna Port on the Red Sea in Egypt (the “Project”). The Project is a modern, state-of-the-art facility completed in 2020 that allows Egypt to reduce its cost of importation of vital products such as Liquified Petroleum Gas (“LPG”), a predominant fuel for cooking in Egypt, and Gasoil used for transportation purposes.
IFC is proposing a 10.5-year debt facility of up to US$355 million consisting of an A-loan of up to US$90 million and up to US$265 million to be funded by Parallel / B-lenders.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||SONKER BUNKERING COMPANY S.A.E.||Client||Energy|
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