Egypt: Edita unveils $45mln loan from IFC

Reuters

The facility deal holds a tenor of eight years, according to a bourse filing

Staff Writer, Mubasher

October 1, 2023

PHOTO

Edita Food Industries inked a finance agreement with the International Finance Corporation (IFC) to obtain a long-term loan at a total amount of $45 million.

The facility deal holds a tenor of eight years, according to a bourse filing.

Edita will use the financing to boost its working capital as well as capital expenditure in Egypt and Morocco.

This aligns with the EGX-listed firm’s international expansion plans and the settlement of up to $10 million of the previously granted IFC loan.

Last month, Edita secured two loans for seven years at a total value of EGP 390 million to finance new investments.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.