Telecom Egypt to obtain $500mln financing from 11 banks

The banks involved in the transaction include First Abu Dhabi Bank, Mashreq Bank, Bank of Jordan, and the Arab Bank of Bahrain

  
The logo of Telecom Egypt is seen on a building in Cairo, Egypt September 12, 2017.

The logo of Telecom Egypt is seen on a building in Cairo, Egypt September 12, 2017.

REUTERS/Amr Abdallah Dals
Telecom Egypt has signed a financing agreement with 11 allied banks to obtain a $500 million medium-term syndicated loan.

The banks involved in the transaction include First Abu Dhabi Bank, Mashreq Bank, Bank of Jordan, and the Arab Bank of Bahrain.

“International Financial Institutions trusted us in the past three years, and it enabled Telecom Egypt to obtain a syndicated loan again estimated at EGP7.8 billion ($500 million),” Adel Hamed, director and chief executive officer of Telecom Egypt, said.

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