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Monday, 11 July 2016

Banque Misr tops Bloomberg’s syndicated loans league tables for Africa, not NBE as reported by local media

Banque Misr, not NBE, top Bloomberg’s African syndicated loans league table for 1H2016: The domestic press incorrectly reported yesterday that National Bank of Egypt (NBE) topped the Egypt and Africa lists for Bloomberg’s Global Syndicated Loans League Tables for 1H2016 (pdf), published by Bloomberg almost two weeks ago. Bloomberg’s League Tables do not include any distinct list for Egypt; the three groupings maintained in the tables that apply to Egypt are for the EMEA (Europe, the Middle East and Africa), MENA and a separate list for Africa. Mitsubishi UFJ Financial ranked as the top bookrunner for MENA loans, while HSBC was top mandated lead arranger for MENA. Banque Misr was the top bookrunner and top mandated lead arranger for Africa. National Bank of Egypt ranked third place for bookrunner for African loans, and second place for Africa loans as mandated lead arranger. The domestic press reports we’ve picked up so far appear to have relied on a statement issued by NBE.

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