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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.

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