{"id":323497,"date":"2021-09-29T12:03:27","date_gmt":"2021-09-29T12:03:27","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=323497"},"modified":"2021-09-29T12:03:27","modified_gmt":"2021-09-29T12:03:27","slug":"banque-misr-completes-largest-syndicated-loan-worth-1bn","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/09\/29\/banque-misr-completes-largest-syndicated-loan-worth-1bn\/","title":{"rendered":"Banque Misr completes largest syndicated loan worth $1bn"},"content":{"rendered":"

Banque Misr has finalised its largest syndicated term facility with a medium-term loan worth $1 billion to finance various projects and contribute to sustainable development, according to a recent statement.<\/p>\n

<\/div>\n

The state-owned bank\u00a0initially planned to refinance the existing $550 million\u00a0syndicated loan signed in 2018; however, the bank received about $1.2 billion in orders,\u00a0about 200% of the initial targeted amount, prompting Banque Misr to increase the facility value and close\u00a0the syndication at $1 billion with a final roll-over ratio of 181%.<\/p>\n

The bank received orders from 22 banks from 11 countries with 12 new banks from the US, Europe, Middle East, and Asia,\u00a0which were not involved in the last facility.<\/p>\n

The three-year loan\u00a0will help diversify the bank\u2019s funding profile and refinance the existing facility.<\/p>\n

The Chairman of Banque Misr,\u00a0Mohamed El-Etreby<\/strong>, said, \u201cThe syndication\u2019s outcome demonstrates the financial resiliency of BM\u2019s and its\u00a0recognition as an empowering arm to restore the macroeconomic stability and in upholding\u00a0to the economic reforms in an expanding market\u00a0even during 2021 turbulent conditions<\/em>.\u201d<\/p>\n

Emirates NBD Capital Limited (EmCap) acted as a syndicated agent\u00a0and Mashreq Bank psc acted as a documentation agent, while\u00a0First Abu Dhabi Bank PJSC was the facility agent.<\/p>\n

EmCap, Mashreqbank, Al Ahli Bank of Kuwait, Arab Banking Corporation, Citibank, First Abu Dhabi Bank, Gulf International Bank, Industrial and Commercial Bank of China, The Mauritius Commercial Bank, National Bank of Kuwait, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation acted as initial mandated lead arrangers and bookrunners and HSBC acted as the lead arranger on the transaction.<\/p>\n

In addition, the National Bank of Ras Al Khaimah and The Saudi British Bank joined the transaction as mandated lead arrangers and bookrunners, Gulf Bank KSCP joined as a mandated lead arranger and AfrAsia Bank, Commerzbank Aktiengesellschaft, Filiale Luxemburg, Habib Bank Limited, Misr Bank-Europe GmbH, United Arab Bank, and United Bank Limited joined the facility as the arrangers.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0Banque Misr has finalised its largest syndicated term facility with a medium-term loan worth $1 billion to finance various projects and contribute to sustainable development, according to a recent statement.\u00a0<\/p>\n","protected":false},"author":4,"featured_media":320854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[],"class_list":["post-323497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main"],"yoast_head":"\nBanque Misr completes largest syndicated loan worth $1bn - egy-africa<\/title>\n<meta name=\"description\" content=\"\u00a0Banque Misr has finalised its largest syndicated term facility with a medium-term loan worth $1 billion to finance various projects and contribute to sustainable development, according to a recent statement.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/09\/29\/banque-misr-completes-largest-syndicated-loan-worth-1bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banque Misr completes largest syndicated loan worth $1bn - 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