Jan 14 2010 |
more articles from
|
CIB arranges an USD 250 million syndicated term loan to Egyptian Drilling Company (EDC)
Cairo, 14th January, 2010: Commercial International Bank, Egypt (CIB) celebrated at the Four Seasons 1st residence the signature of a new 7-year Syndicated Term Loan for a total amount of USD 250 million in the name of Egyptian Drilling Company (EDC) , to finance the purchase of a new off-shore Baker Marine Pacific jack-up rig (BMC Pacific 375). The rig is currently under construction in Singapore by PPL Shipyard, one of the largest rig builders worldwide, and will be delivered by July 2010.The syndication was launched into the market on September 15th, 2009 and was closed in record time on December 23rd, 2009 with a total of 8 banks including CIB (acting as a facility agent and account bank) , Banque du Caire , National Bank of Greece, Export Development Bank of Egypt , National Societe Generale Bank ( NSGB ), Credit Agricole Bank of Egypt , Bank of Alexandria and Egyptian Saudi Finance Bank .
EDC 's track records and achievements date back to 1976. The company is Egypt's leading oil and gas drilling contractor and occupies a leading position in the Middle East market. It operates one of the largest rig fleets-comprising 68 onshore and offshore rigs- providing drilling services to the largest exploration and production companies in Egypt, Saudi Arabia, Libya and Syria.
-Ends-
Salah El Din Aloui
Media Relations Manager
Promoseven Weber Shandwick
Tel: +2 02 3047215 - 17
Fax: +2 02 3047213
Mob: +2 012 39 79 586
E-Mail: salah@promoseven.com
Yousra Genena
Media Relations Executive
Promoseven Weber Shandwick
Tel: +2 02 3047215 - 17
Fax: +2 02 3047213
Mob: +2 012 3011205
E-mail: Yousra.Genena@promoseven.com
© Press Release 2010
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment