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Tuesday, 8 May 2018

Banque Misr taps international bank to manage USD 500 mn loan

Banque Misr has hired an international bank to manage a USD 500 mn loan it’s looking to secure from international lenders by 3Q2018, Chairman Mohamed El Etreby tells Bloomberg, without disclosing the name of the bank. The loan would be directed towards Banque Misr’s planned expansions, according to El Etreby. The bank had announced its intention to take on a new loan after signing for a USD 500 mn facility from the European Investment Bank (EIB) back in December.

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