Cairo – Mubasher: Telecom Egypt (TE) is expected to sign the second tranche, worth $200 million, of a $500 million loan with Mashreq Bank and First Abu Dhabi Bank (FAB) within the coming few days, director of Treasury and Risk Development Sahar Heshmat said.

She added that the tranche had a maturity of five years, according to Masrawy.

In May, TE's board had agreed to obtain long-term facilities worth $900 million. They also approved a five-year syndicated loan worth $500 million to be arranged by the UAE's Mashreq Bank and First Abu Dhabi Bank (FAB).