RSGTI appoints Green Delta Capital as lead arranger

Red Sea Gateway Terminal International (RSGTI), a logistics and industrial zone operator based in the Kingdom of Saudi Arabia, has appointed Green Delta Capital Ltd as the mandated lead arranger for debt raising for its Patenga Container Terminal project in Bangladesh.

In its capacity as mandated lead arranger, Green Delta Capital, an investment bank and a subsidiary of Green Delta Insurance Company, will work closely with RSGTI's team to structure and arrange the debt financing required to fuel the company's strategic objectives.

By leveraging their expertise and industry connections, the investment bank aims to ensure a smooth and successful debt raising process for the Red Sea Gateway Terminal in Bangladesh, the company said in a press release.

"Red Sea Gateway Terminal International (RSGTI), through its subsidiary RSGT Bangladesh Ltd, has signed a 22-year Equip-Operate-Transfer concession agreement with the Chittagong Port Authority for the operation of the new 500,000 TEU capacity Patenga Container Terminal at Bangladesh's primary seaport," said Abbas Bukhari, group chief financial officer of Red Sea Gateway Terminal.

"The concession calls for an investment of $170 million over the concession term. RSGT Bangladesh is excited to have Green Delta Capital leading the project financing process for this critical project that would hopefully lead to a brighter future for trade and commerce between Saudi Arabia and Bangladesh."

Rafiqul Islam, Managing Director & CEO of Green Delta Capital Ltd, said they were honoured to have been selected as the mandated lead arranger by RSGT Bangladesh.

"We are confident that our experience in debt arranging, combined with Red Sea Gateway's strong market presence, will pave the way for a successful collaboration," said Islam.