Gold prices in Egypt on June 29    World Bank to provide Egypt $500 million to enhance food security – minister    Egypt plans to build desalination plant in Iraq's Euphrates    Saudi citizens could enter Schengen countries visa-free    Egypt's Petrojet returns to Libyan oil sector after 11 years    Cemex, VeryNile sign deal for Egypt's Nile River    NATO remarks Egypt's role in maintaining stability in Middle East and Africa    Congo needs Egypt's expertise to diversify its economy – FPI official    Dostarlimab drug cures rectal cancer patient 100%, trials show    Egypt: A royal train turns into a new tourism attraction    Conclusions and Recommendations of the 1st edition of Africa Health ExCon    For the first time John Legend to perform in Egypt    Egypt discovers newly treasure trove of ancient artifacts at Saqqara Necropolis    Noura Al-Mutair – first Gulf female boxer in World Championships    Liverpool fans: "You'll Never Walk Alone" to Cristiano Ronaldo    Egypt to play key role in integrating water, climate issues globally – World Bank official    Egypt's telecoms regulator announces working hours for holy month of Ramadan    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    Egypt's trade with Nile basin countries climbs 26% y-o-y in 9 months    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Loan Arrangers Affirm Signing Of Term Sheet..Contradicting Mobinil's Denial
Published in Amwal Al Ghad on 01 - 08 - 2012

The National Bank of Egypt (NBE), Banque Misr, Commercial International Bank (CIB), National Societe General Bank (NSGB) and HSBC Bank denied Mobinil's statements claiming not signing the term sheet of the EGP 2.9 billion syndicated loan arranged by such banks.
Three sources said the loan arrangers signed the term sheet with the Egyptian Company for Mobile Services Mobinil at the mid of last July. The banks work currently on getting approvals from their boards of directors. Sources said the banks will sign the final agreement with Mobinil before the end of August.
Sources criticized the Egyptian Exchange Market's disclosure management that refused to disclose details about the companies listed in the market. Mobinil denied that it signed the term sheet of the syndicated loan at the beginning of this week.
Sources expected NBE expected to contribute with EGP 850 million, Banque Misr to contribute with EGP 650 million, CIB to contribute with EGP 800 million, HSBC to contribute with EGP 400 million and NSGB to contribute with EGP 200 million. Mobinil will use the 7-year loan to finance future local expansions and refinance current debts.
A consortium compromising of NBE, CIB and NSGB offered EGP 2 billion loan to Mobinil last year of which NBE contributed with EGP one billion and CIB and NSGB offered EGP one billion.

Clic here to read the story from its source.