Bank ABC, Emirates NBD Capital Limited, HSBC Bank Middle East Limited, Mashreqbank PSC and Union National Bank PJSC (the “Mandated Lead Arrangers & Bookrunners”) have successfully arranged a US$250 Million Syndicated Term Loan Facility on behalf of Banque Misr Egypt (the “Borrower”).
Bank ABC acted as Coordinator to the Facility which is structured as a senior unsecured term loan, with a tenor of three years and shall be used for the Borrower’s general funding purposes.
Speaking at the signing ceremony, Banque Misr Chairman, Mr. Mohamed Eletreby, stated: “We are pleased with the support provided by the Mandated Lead Arrangers & Bookrunners and the strong demand presented from banks participating in the Facility’s general syndication. This appetite reflects confidence in Banque Misr and the future prospects of Egypt’s economy.”
The Mandated Lead Arrangers & Bookrunners expressed their delight with the closure of the transaction and wished Banque Misr continued growth and prosperity in the future.
Established in 1920, Banque Misr is the second largest bank in Egypt by total assets and the first bank in Egypt to be wholly owned by Egyptians. Regulated by the Central Bank of Egypt, the bank carries out corporate, retail and investment banking activities in addition to Islamic banking.
(from left) Dr. Khaled Kawan and Mr. Mohamed Eletreby