May 22 2008 |
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Credit Agricole Egypt Lead Arranger for a USD 133.6 million Loan for Maridive & Oil Services Co.
Cairo, Egypt 22 May 2008: At a ceremony that took place at the Four Seasons Nile Plaza during April, Maridive & Oil Services Company (MOS) , a member of Maridive Group, signed a USD 133.6 million syndicated loan contract, arranged by Credit Agricole Egypt (CAE) and Commercial International Bank (CIB) . The loan is to partially finance MOS fleet expansion over the coming 3 years and is shared among 7 banks: CAE , CIB , Arab African International Bank (AAIB) , National Bank of Egypt (NBE) , Bank of Alexandria (BOA) , The United Bank and Export Development Bank of Egypt (EDBE) . It is worth mentioning that the loan's disbursement procedures are in process.
The Maridive Group is an Egyptian-owned marine and offshore services company, the core activity of which is offshore marine services, supported by a large fleet of vessels which is being increased along the ongoing fleet expansion project, partially financed by the subject syndicated loan. This loan will allow Maridive to expand its multi-purpose fleet and advance its position as the most integrated and capable marine and petroleum services' company in Egypt and the Gulf.
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CAE was established when Crédit Agricole SA, a leading global financial institution operating in more than 70 countries, and the Mansour & Maghraby Investment & Development Company (MMID) acquired the Egyptian American Bank and merged the network with Calyon Bank Egypt in September 2006. Today, CAE 's committed team of experts offers a wide range of products and services designed to meet the demands of leading national and regional Corporations, SMEs, and retail clients, as well as high net worth customers. In addition to its network of branches conveniently located throughout the country, Crédit Agricole Egypt offers online banking services for easy access and convenient transactions (www.ca-egypt.com) in addition to its call center (19191) available 24 hours, 7 days a week.
For more information visit www.ca-egypt.com or contact:
Rasha Teima
TRACCS Egypt
Tel: (+202) 33046860
Fax: (+202) 33031219
Email: rasha@traccs.net
© Press Release 2008
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