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Monday, 22 February 2021

Also on our radar on 22 February 2021

The Suez Canal Authority (SCA) is borrowing USD 100 mn from a syndicate of four local banks to finance ongoing projects, Al Mal reports, citing unnamed sources. CIB, Banque du Caire, and Arab African International Bank will provide USD 30 mn each, and the remaining USD 10 mn will be arranged by Suez Canal Bank, the sources said. This is part of an EGP 10 bn loan agreement due to be signed in the coming days. The loan includes USD 320 mn in foreign currency borrowing and is being managed by the National Bank of Egypt and Banque Misr.

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