Telecom Egypt secures EGP 18B syndicated loan to strengthen financial position

Updated 10/29/2024 4:18:00 AM
Telecom Egypt secures EGP 18B syndicated loan to strengthen financial position

Arab Finance: Telecom Egypt has signed an EGP 18 billion syndicated loan with 13 banking institutions to refinance its short-term debt and improve its financial flexibility, as per a statement.

This seven-year facility will support the telecom giant in rebalancing its cash flow as it pursues long-term growth objectives.

Commercial International Bank (CIB) and Banque Misr have taken the lead roles as initial mandated lead arrangers and bookrunners, with the National Bank of Egypt (NBE) participating as a mandated lead arranger and bookrunner.

The refinancing aligns with Telecom Egypt’s strategy to ensure steady liquidity and mitigate financial risks in an evolving market.

Related News