SCA in the market for EUR 300 mn loan to finance dredger purchase

The Suez Canal Authority (SCA) has asked Banque Misr and National Bank of Egypt for a EUR 300 loan to buy two new dredgers, sources tell Reuters. The banks are now preparing the terms of the agreement, they noted. SCA had signed a EUR 300 mn agreement with Dutch Royal IHC to purchase two dredgers last week.