Egypt’s Banque Misr in talks with banks for dollar loan: sources

An Egyptian man changes U.S. dollars to Egyptian pounds at a currency exchange office in downtown Cairo, Egypt (File photo: AP)

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.

 

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Last Update: Wednesday, 20 May 2020 KSA 13:55 - GMT 10:55
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