Mubasher TV
Contact Us Advertising   العربية

Egypt's NBE participates in syndicated loan for EGPC

Egypt's NBE participates in syndicated loan for EGPC
FAB
NBAD
-0.45% 13.42 -0.06
Aconsortium including National Bank of Egypt (NBE), National Bank of Abu Dhabi (NBAD) and HSBC will arrange a $1.5 billion syndicated loan to Egypt's state oil company in order for the country to pay back foreign energy companies, Reuters reported.
: According to a joint statement of the three lenders, the loan, arranged for the ‏‎Egyptian General Petroleum Corporation (EGPC), will be repaid in three years through quarterly installments.
Hisham Okasha, NBE’s chief executive, said."Disbursement of the loan will start before the end of December 2014, with each bank having a share of $500 million."