Eastern Sugar Company has lined up bridge financing of EGP 1.2 bn and a further USD 100 mn for its El Minya factory,the company said in a statement (pdf). The syndicated facility was provided by the National Bank of Egypt, QNB Al Ahli, Bank of Alexandria, Industrial Development Bank, The United Bank of Egypt and Suez Canal Bank. The company is currently working on another loan agreement for USD 700 mn.

Advisors: Al Ahli Capital and Zaki Hashem & Partners served as financial and legal advisers respectively to El Canal Sugar, while Helmy Hamza & Partners advised the banks.

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