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EXCLUSIVE: share of 9 banks in Egypt's EGAS loan
Published in Amwal Al Ghad on 19 - 04 - 2017

A consortium of nine Egyptian and Arab banks has completed arranging a loan worth 1.8 billion Egyptian pounds ($99.1 million) for state-run Egyptian Natural Gas Holding Co (EGAS).
The consortium comprises Banque Du Caire, Emirates NBD (ENBD), Arab Investment Bank (AIBK), Industrial Development and Workers Bank of Egypt (IDWBE), Export Development Bank of Egypt (EDBE), Egyptian Gulf Bank (EGBANK), Al Baraka Bank Egypt, National Bank of GreeceEgypt, and Al Ahli Bank of KuwaitEgypt.
Banque Du Caire acts as the lead arranger, facility agent, account bank, and loan promoter for the EGAS's loan, banking sources with knowledge told Amwal Al Ghad on Tuesday.
Designated to pay EGAS' dues to foreign partners and local suppliers, the loan was fully disbursed last March," the sources said.
The following table demonstrates the banks' contributions to the loan, Amwal Al Ghad quoted the sources as saying:
The Bank
Contribution in Egyptian pound
Banque Du Caire
920 million
Emirates NBD (ENBD)
220 million
Arab Investment Bank (AIBK)
150 million
Industrial Development and Workers Bank of Egypt (IDWBE)
150 million
Export Development Bank of Egypt (EDBE)
80 million
Egyptian Gulf Bank (EGBANK)
75 million
Al Baraka Bank Egypt
75 million
National Bank of GreeceEgypt
70 million
Al Ahli Bank of KuwaitEgypt
60 million
EGAS will be given a two-year grace period and the loan will be paid back over five years.


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