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Wednesday, 2 December 2020

Who’s in the market for debt?

Banque du Caire is getting USD 30 mn in tier-two capital under a financing agreement with German development bank KfW’s Sanad fund, Hapi journal reports. The facility, the final agreement for which Banque du Caire and Sanad signed yesterday, will be used for on-lending to SMEs and farmers.

MEANWHILE-

Ora Developers signed an eight-year, EGP 2.5 bn syndicated loan agreement with Banque Misr, Emirates NBD, the Export Development Bank and the Housing and Development Bank to help finance the first and second phases of its Zed West real estate project, according to a press release (pdf).

The National Bank of Egypt is mulling EGP 20 bn-worth of syndicated loans with unnamed banks to finance port, infrastructure, and real estate projects, Vice Chairman Yehia Abou El Fotouh said, reports Mubasher.

City Edge Developments is closing in on a EGP 1.1 bn syndicated loan from the National Bank of Egypt and Banque Misr to build a mall in Sheikh Zayed, according to Al Mal.

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