Arab Finance: Banque Misr has signed a $1 billion syndicated unsecured term loan deal from a consortium of 18 banks from across Europe, the Middle East, Asia and Africa, according to Hapi.
The two-year financing, with an option to extend for an additional 12 months, was led by Emirates NBD Capital and Mashreq Bank who also acted as lead arrangers, commissioners and bookrunners for the financing.
as Middle Eastern banks contributed 72% of Banque Misr’s total loan, which was covered by 1.8 times, and the deal was completed within 40 days. The new loan will be used to finance Banque Misr’s general operations and refinance its existing facilities.
Related news
