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NBE-led banking consortium to grant EGP 7.2B loan to KIMA

NBE-led banking consortium to grant EGP 7.2B loan to KIMA

Arab Finance: A consortium of six banks led by the National Bank of Egypt (NBE) has signed a long-term syndicated loan agreement with Egyptian Chemical Industries (KIMA) (EGCH) for a total amount of EGP 7.2 billion, according to a filing to the Egyptian Exchange (EGX) on June 16th.

The NBE leads the consortium as the agent, promoter, and lead underwriter of the financing, while the Arab African International Bank (AAIB) acts as guarantor, agent, and primary underwriter.

Banque Misr and Banque du Caire (BDC) (BQDC) also act as primary underwriters and guarantors, while BLOM Bank Egypt and the Egyptian Arab Land Bank (ERLB) serve as participating banks.

The financing aims at narrowing the gap in the fertilizers market as well as setting up an integrated industrial city in Aswan through contributing to the construction of the company's new plant which will have a daily production capacity of 1,200 tons of ammonia and 1,575 tons of urea, Minister of Public Business Sector Hisham Tawfik stated.

KIMA is an Egypt-based nitrogen-based fertilizers manufacturing leader and is engaged in the agricultural chemicals industry.

The company produces and distributes various products, including urea, ammonium nitrate, ferrosilicon alloy, liquid ammonium nitrate fertilizer, prill ammonium nitrate fertilizer, liquid ammonia, aqua-ammonia, nitric acid, hydrochloric acid, and silica fume.

 

 

 

 

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