Gulf Capital, an alternative asset manager in the Middle East, facilitated the following investment for its private debt fund, GC Credit Opportunities Fund II, L.P. (the Fund).
The Fund provided a $22,000,000 convertible loan facility to Amiral Holdings Ltd (Amiral) a BVI entity, to allow Amiral to invest in Sonker Bunkering Company S.A.E.(Sonker). Sonker will use the funding to help upgrade the oil and gas infrastructure in Egypt, by way of building and operating a bulk-liquids terminal for the import and storage of gasoil and liquefied petroleum gas (LPG) in the third basin of Ain Sokhna Port on the Red Sea. The terminal will help to dock two floating storage and regasification units and manage LNG imports to the national gas grid. The project is crucial to Egypt’s energy security and will help Egypt meet its growing requirement for gasoil, LPG, and natural gas imports.
