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Tuesday, 25 May 2021

IDH obtains USD 45 mn in financing from IFC

Consumer healthcare giant Integrated Diagnostics Holdings (IDH) has secured a USD 45 mn debt financing package from the International Finance Corporation (IFC), according to a press release (pdf). The eight-year loan will be used to finance the recently EGX-listed company’s growth plans in high growth emerging markets, in addition to its current presence in Egypt, Jordan, Nigeria and Sudan. Additionally, the financing will also be used in expanding IDH’s medical services and testing, with a particular focus on covid-19 testing in Egypt and Jordan, the statement reads.

Advisers: Renaissance Capital advised IDH on the transactions. Clifford Chance was appointed legal counsel to IDH in England and the US, while Nour & Partners in Association with Al Tamimi & Company are acting as the local legal counsel to IDH.

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