International law firm Simmons & Simmons has advised on a $400m project financing rescheduling for the Sonker Bulk Liquids Terminal in Egypt - a key strategic hub based at Sokhna Port, on the Red Sea coast.
Established to handle the import, storage, and distribution of bulk liquid products, including refined petroleum products, liquefied petroleum gas (LPG), and liquefied natural gas (LNG), the Sonker terminal plays a critical role in supporting Egypt's energy sector.
Simmons advised the group of lenders, comprising major financial institutions the Commercial International Bank Egypt (CIB), the European Bank for Reconstruction and Development (EBRD), First Abu Dhabi Bank Misr (FABMISR) and the International Finance Corporation (IFC), on the rescheduling of the project financing.
The project is developed by the Sonker Bunkering Company - a specialist in private storage and the supply and storage of fuel for ships - beneficially owned by Amiral Holding Group and the Egyptian government.
The Simmons team advising on the rescheduling was led by Joanne Elson, Of Counsel in the firm's energy, natural resources, infrastructure, and construction (ENRIC) sector group, supported by Adam Cooper (Consultant), Vannina Castellani (Managing Associate) and Emma Prime (Associate).
Commenting on the deal, Joanne Elson said: "The rescheduling of the Sonker Bulk Liquids Terminal financing is a key milestone for this strategic energy hub. Our team's deep expertise in energy infrastructure and project financing was instrumental in supporting the lenders on this complex transaction."
