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Sunday, 13 September 2020

Who’s in the market for debt? Rooya, monorail, Canal Sugar

Weekends are usually a quiet time for the customary leaks in bankers’ never-ending quest for a bit for PR on the issue of why (may be) loaning what to whom. Among the highlights:

  • Real estate developer Rooya is said to be in the market for EGP 2 bn in finance to allow it to continue building, extending an earlier EGP 3 bn facility. Bank Misr and AAIB are said to be involved.
  • Credit Agricole says it is leading a EUR 1.9 bn loan to finance the Cairo-new administrative capital monorail. (Al Shorouk) Orascom Construction, Bombardier and Arab Contractors broke ground on the 96-km, USD 4.5 bn monorail in May.
  • Canal Sugar Company is reportedly seeking a EGP 1.5 bn loan from a consortium of six banks as an extension to a EGP 2.9 bn facility it received in March 2019. NBE QNB, Alexbank and the Suez Canal Bank are among those reportedly participating.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2020 Enterprise Ventures LLC.