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Jan 10 2010

Egypt firm seeks loan

State-owned Egyptian General Petroleum Corporation is looking to secure 58-month debt financing for a total of $2 billion to be used for exploration, bankers were reported as saying in the media yesterday.

The reports said that vari-ous banks have formed bidding groups and the deadline for submissions is January 18.

The loan is expected to take the form of either a pre-export syndi-cated loan, a bond or a mix of the two.

© 7Days 2010

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