ACC to restructure outstanding loans through new syndicated loan

Cement supplier Arabian Cement Company (ACC) is receiving a syndicated loan from the European Bank for Reconstruction and Development and CIB to restructure its USD 23 mn and EGP 499.3 mn outstanding debt to a local bank, according to a press release (pdf). The facility will give ACC more room to fulfill its long-term strategy to become more competitive through higher energy and cost efficiency, the company said.