The National Bank of Egypt (NBE), the country’s biggest state lender, is leading a banking consortium to arrange a syndicated loan agreement for State-run Egyptian Electricity Transmission Company (EETC)worth around 4 billion Egyptian pounds ($254.8 million)
The consortium is led by the National Bank of Egypt (NBE) as the senior mandated lead arranger, facility agent, and bookrunner. The Commercial International Bank (CIB-Egypt) and Banque du Caire are in the consortium as lead arrangers and bookrunners, while National Bank of Kuwait – Egypt (NBK Egypt) acts as an arranger.
The signing ceremony was attended by Egyptian Minister of Electricity Mohamed Shaker.
The loan will partially finance the investment cost of some of EETC’s projects, including building new substations, upgrading existing stations, and installation of new cables and high voltage transmission lines nationwide.
