Egypt’s Banque Misr in talks with banks for dollar loan: sources
The lender is expected to raise around $300 million, one of the sources said
Banque Misr, Egypt’s second-largest state lender, has invited banks to pitch for arranger roles on a potential dollar-denominated syndicated loan, three banking sources said on Thursday.
The bank is looking for a loan with a three year lifespan and has sought feedback from banks by the end of June, the sources said, speaking on condition of anonymity as the information isn’t public.
The lender is expected to raise around $300 million, one of the sources said.
No one at Banque Misr was immediately available for comment.
- Egypt’s Palm Hills agrees $98 million loan through subsidiary
- Central bank: Egypt money supply up 16.5 percent in April
- Egypt picks banks for first international bond issue in 5 years
- Kuwait’s Burgan Bank to consider expanding in UAE, Saudi, Egypt
- Ending Egypt’s currency black market brings new challenges
- Kuwait’s Al Ahli Bank buying Piraeus Bank Egypt for $150 mln