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Etisalat Misr signs with 10 banks 4G loan deal
Published in Amwal Al Ghad on 24 - 12 - 2016

Etisalat Misr, the Egyptian unit of UAE telecommunications operator has signed Thursday a syndicated loan agreement worth 6 billion Egyptian pounds ($317 million) with a consortium of 10 banks.
The loan is designated to finance the local currency component 4G licence fees, new frequencies, as well as operational and capital costs for Etisalat Misr.
The consortium involves the National Bank of Egypt (NBE), Commercial International Bank (CIB), Banque Misr, QNB Al-Ahli, HSBC Egypt, Abu Dhabi Islamic Bank-Egypt (ADIB), AlexBank, National Bank of Kuwait-Egypt (NBK), Crédit Agricole Egypt, and Emirates NBD Bank-Egypt.
NBE, CIB, and Banque Misr will act as the main lead arranger for Etisalat Misr's loan; while QNB Al-Ahli, HSBC Egypt, and ADIB-Egypt will be the bookrunners.
The syndicated financing is divided into two tranches; the first will be in form of a seven-year reducing revolving loan worth 3.5 billion pounds; while the second will be a five-year loan worth 2.5 billion pounds.
In November, On Sunday, Etisalat Misr secured a licence to offer fourth-generation mobile phone services after lengthy negotiations with the government.
Below a table demonstrates the contribution of each bank to Etisalat Misr's loan:
Bank
Amount of Contribution in Egyptian pounds
NBE
1.250 billion
CIB
900 million
Banque Misr
900 million
QNB AlAhli
800 million
HSBC Egypt
550 million
ADIB-Egypt
500 million
AlexBank
350 million
NBK-Egypt
300 million
Crédit Agricole Egypt
250 million
Emirates NBD Bank-Egypt
200 million


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