The Egyptian Electricity Transmission Company (EETC) achieved financial close on the EUR 98.5 mn facility for the Samanoud and Abo El Matamir high-voltage substations. BNP Paribas acted as initial mandated lead arranger and facility agent for the loan, which will finance 85% of the FX portion of the commercial contract between EETC and its consortium of contractors, Elsewedy Electric and Siemens. The loan is payable over 12 years. The transaction marks BNP Paribas’ second consecutive agreement with EETC following the EUR 200 mn loan in 2016 for six substations.

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