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East Delta Electricity Production Co. Receives 70% Of EGP 4.6 Bln Loan
Published in Amwal Al Ghad on 01 - 08 - 2012

Banks, arranging the EGP 4.6 billion loan for the East Delta Electricity Production Company, signed the contract extension of the long-term loan after extending the grace period by six months started from last June.
Sources close to the matter said the company received about 70% of the value of the loan. Such finance is the largest one offered by banks in Egypt to the electricity sector as banks finance about 74.2% of the project's investment cost which is valued at EGP 6.2 billion.
The National Bank of Egypt (NBE) acted as the loan lead arranger and facility agent. NBE contributed with EGP 1.6 billion to the syndicated loan. Banque Misr and Commercial International Bank (CIB) and Arab African International Bank (AAIB) acted as the main loan arrangers. Faisal Islamic Bank of Egypt, Al Watany Bank of Egypt (AWB) and BNP Paribas Egypt acted as loan arrangers. The Export Development Bank of Egypt, Union National Bank-Egypt, Egyptian Gulf Bank, Crédit Agricole Egypt, United Bank, Alex Bank and Blom Bank Egypt acted as loan contributors.
Banque Du Caire contributed with EGP 450 million to the syndicated loan after approving an offer from Banque Misr to contribute to the syndicated loan.
The loan was used to finance the establishment of 12 electricity power generation units with capacity of 1500 megawatt.
Name of the Bank
Value of contribution (value in EGP million)
National Bank of Egypt (NBE)
1600
Commercial International Bank (CIB)
540
Arab African International Bank (AAIB)
540
Banque Du Caire
450
Banque Misr
350
Faisal Islamic Bank of Egypt
220
Al Watany Bank of Egypt (AWB)
180
BNP Paribas Egypt
175
Export Development Bank of Egypt
125
Union National Bank-Egypt
80
Crédit Agricole Egypt
80
United Bank
75
Alex Bank
75
Blom Bank Egypt
75
Egyptian Gulf Bank
38
Total
4603


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