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Sunday, 26 July 2020

NBE manages EGP 3.5 bn joint loan for Ezz Steel

The National Bank of Egypt (NBE) is managing a EGP 3.5 bn joint loan for the Ezz Steel Group to increase its working capital, Al Shorouk reports, citing unnamed informed sources. NBE, the AAIB, Banque Misr and Banque du Caire are all participating in the loan. The steel company is also reportedly seeking a separate EGP 3 bn facility, managed by the AAIB and including a USD 100 mn foreign currency tranche.

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