Thursday July 25th, 2024
Download the app
Copied

National Bank of Egypt Signs USD 1 Billion Syndicated Loan

The loan will support NBE's general corporate activities and bolster its trade finance operations.

Cairo Scene

National Bank of Egypt Signs USD 1 Billion Syndicated Loan

The National Bank of Egypt (NBE) has secured a USD 1 billion syndicated loan, demonstrating strong global confidence from international financial institutions. The loan will be directed towards enhancing NBE’s corporate operations and expanding its trade finance capabilities.


The loan attracted significant interest globally, drawing commitments from 19 financial institutions across Western Europe, Asia, Africa, and the Middle East. Initially launched at USD 750 million, the facility was oversubscribed by 1.7 times, reflecting widespread interest from lenders.


Key financial institutions played a crucial role in this transaction. Emirates NBD Capital Limited, Mashreqbank PSC, and Firstrand Bank Limited (acting through its Rand Merchant Bank Division) coordinated the deal. Emirates NBD Capital Limited also served as the syndication agent, managing and finalising the loan arrangement.


The secured funds will be used primarily for NBE’s general corporate funding and to bolster its trade finance operations. By channelling resources into these areas, NBE aims to enhance its operational efficiency and strengthen its capacity to facilitate international trade, thereby driving economic growth.


×

Be the first to know

Download

The SceneNow App
×