Orange Egypt signs syndicated loan with 8 banks

07 Apr 2018

Orange Egypt For Telecommunications Company (OREG) declared in a statement sent to EGX, it signed LE7-billion syndicated loan on April 05, 2018, with Commercial International Bank (COMI), National Bank of Egypt, Banque Misr, Alexbank, HSBC, Emirates NBD, Credit Agricole Egypt SAE (CIEB) and Attijariwafa Bank.

The loan will be utilized to finance the capitalization expansion to enhance the company services for its subscribers as well as refinancing the current syndicated loans that amount LE4.3 billion.

It is worth to mention, the loan period will be 7 years starting signing date, in addition, two years grace period. The loan will be repaid in through the five years after the grace period being ended.

arabfinance

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