TRSDC achieves financial close on $3.76bn loan – Construction Week Online
- Date: 20-Jan-2022
- Source: Construction Week
- Sector:Financial Markets
- Country:Saudi Arabia
TRSDC achieves financial close on $3.76bn loan – Construction Week Online
The Red Sea Development Company (TRSDC), the developer behind the world’s most ambitious regenerative tourism project, The Red Sea Project has achieved financial close on its $3.76bn (SAR14.12bn) term loan facility and revolving credit facility with four Saudi banks.
As reported previously, the banks are Banque Saudi Fransi, Riyad Bank, and Saudi British Bank, with Saudi National Bank acting as Mandated Lead Arrangers.
“This year, we have proceeded at pace with the delivery of our flagship project, all the while mindful of our commitment to not only reduce our impact on the environment but actively deliver a 30 percent net conservation benefit by 2040,” explained John Pagano, Chief Executive Officer, The Red Sea Development Company.
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