The UAE’s Mashreq Bank is reportedly arranging a USD 360 mn facility for Evergrow Speciality Fertilizers to restructure its debt and complete the third phase of its fertilizer plant in Sadat City, Al Shorouk says, citing unnamed sources. The newspaper claims Mashreq gauging the appetite of local and Gulf banks who may participate. Some USD 275 mn of the loan will go toward restructuring the company’s outstanding debt.

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