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Banque Misr is expecting to complete procedures to obtain a $250-300 million loan of three years duration in December, using it to strengthen the dollar resources of Egypt’s second-largest state lender, its chairman told Reuters Monday.
Mohamed Eletreby said the loan will pay a margin of 3.2 percent.
Meanwhile, Eletreby told Amwal Al Ghad that his bank requested Bank ABC Bahrain to arrange the dollar-denominated syndicated loan.
Meanwhile, Emirates NBD, HSBC, Mashreq and Union National Bank will take part in the loan, two banking sources aware of the matter told Reuters.
