Bank Misr obtains the largest loan in its history

The State Bank of Egypt obtained the largest syndicated loan in its history, amounting to US $ 1 billion, as part of the renewal of the syndicated loan it obtained in 2018.

The bank has received claims for over US $ 1 billion, with a coverage ratio of around 200% of initial value, from 22 regional and international banks in 11 countries in the United States, Europe, Middle East and Asia, including 12 new Banks participating for the first time in the syndicated loan to Bank Misr Egypt complete the loan at a coverage rate of 181% of the initial value of the syndicated loan amounting to 1 billion of US dollars.

“The results of the joint financing showed the financial flexibility the bank enjoys as one of the influential arms to restore macroeconomic stability and contribute to economic reforms in a growing market, even in the turbulent conditions of 2021,” said said Mohamed El, Chairman of the Board of Directors of Banque Misr. -Etreby. According to the seventh day.

Akef Al-Maghraby, vice chairman of the board, said that “despite the negative impact of the global epidemic, in addition to the difficulty in accessing international markets to obtain the necessary liquidity, the bank has achieved a new achievement that will be reflected significantly on the main engines of Egyptian economic growth. “

Misr Bank used Emirates NBD Capital, Mashreq Bank and First Abu Dhabi Bank, which are one of the largest banks in the United Arab Emirates specializing in arranging joint lending operations, in addition to the participation of Emirates NBD Capital, Mashreq Bank, Al Ahli Bank of Kuwait, Arab Banking Corporation, Citi Bank, First Abu Dhabi Bank, Gulf International Bank, Industrial and Commercial Bank of China, Mauritius Commercial Bank, National Bank of Kuwait, Standard Chartered Bank, Sumitomo Mitsui Banking Group as lead arrangers and offer managers as well as Ras Al Khaimah National Bank and Saudi British Bank as lead managers, arrangers and bookkeepers This involves setting up the syndicated loan for the account Bank Misr, for a period of 3 years, in order to finance the bank’s banking operations, in addition to carrying out the process of early repayment of the existing syndicated loan.

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