Sep 02 2012
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Egypt's Mobinil Signs EGP2.9 Bln Loan to Repay Debt, Expand Network
Sunday, Sep 02, 2012
DUBAI (Zawya Dow Jones)--The Egyptian Co. for Mobile Services, or Mobinil , said Sunday that it has signed a 2.9 billion Egyptian pounds ($475 million) consolidated loan to repay some of its debts and to expand its network.
The consortium consists of National Bank of Egypt, Commercial International Bank Egypt, or CIB, HSBC, and National Societe Generale Bank, Mobinil said in a statement on the Egyptian bourse.
Mobinil reported a first half net loss of EGP47 million, almost half of the EGP85.8 million loss it chalked up a year ago.
Mobinil shares trade -0.1% at EGP148.04 Sunday in an overall positive market.
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