Saudi’s Red Sea Project signs green loan

By Mariam Meskin
27 Apr 2021

Saudi Arabia's Red Sea Development Company has raised a green loan, marking the second deal of its kind raised in the kingdom and the first in local currency. Funds will be used to support the development of the country's new tourist attraction, the Red Sea Project.

The Sr14.12bn ($3.76bn) transaction was the first ever green credit facility in the currency. The funds, which include a term loan and a revolver, have a tenor of 15 years.

A consortium of Saudi banks led the transaction.Banque ...

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