{"id":546375,"date":"2022-05-15T04:00:24","date_gmt":"2022-05-15T04:00:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/15\/canal-sugar-company-gets-egp-12-5-bn-syndicated-loan-for-sugar-beet-factory\/"},"modified":"2022-05-15T04:00:24","modified_gmt":"2022-05-15T04:00:24","slug":"canal-sugar-company-gets-egp-12-5-bn-syndicated-loan-for-sugar-beet-factory","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/15\/canal-sugar-company-gets-egp-12-5-bn-syndicated-loan-for-sugar-beet-factory\/","title":{"rendered":"Canal Sugar Company gets EGP 12.5 bn syndicated loan for sugar beet factory"},"content":{"rendered":"

<\/a> Canal Sugar Company has secured loans worth EGP 12.5 bn from a consortium of <\/strong>10 banks<\/strong> led by the National Bank of Egypt (NBE) to help finance its USD 1 bn<\/a>sugar beet processing facility<\/a> in West Minya, according to a press release (pdf)<\/a> from the NBE. A portion of the funds will go towards refinancing an EGP 2.9 bn facility Canal Sugar received in 2019.<\/p>\n

Who are the lenders? <\/strong>QNB Al Ahli, Afreximbank, Banque du Caire, Suez Canal Bank, the United Bank, Arab Investment Bank, Agricultural Bank of Egypt, Industrial Development Bank, and Housing and Development Bank all joined the NBE in contributing to the facility.<\/p>\n

What\u2019s Canal Sugar building? <\/strong>The 181k-feddan West Minya sugar factory<\/a> is set to be the largest beet sugar factory in the world once complete and will produce around 900k tons of sugar a year, allowing Egypt to start exporting the food staple. The facility is a joint venture between the UAE\u2019s Al Ghurair Group, which holds a 37% stake in the project; the UAE\u2019s Murban Energy (part of Alpha Dhabi), which holds 33%; and Al Ahly Capital, which holds the remaining 30%. The Emirati investors have invested some USD 220 mn in the project, while Al Ahly Capital has stumped up some EGP 1.6 bn, according to the NBE statement. So far, 18k feddans of beet have been planted since operations began, and 90% of the factory\u2019s construction has been completed.<\/p>\n

What they said:<\/strong> \u201cThe construction of the project in Egypt reflects investors\u2019 confidence in its economy and resources,\u201d said Canal Sugar Chairman Jamal Al Ghurair, who is also the managing director of Al Ghurair Group subsidiary Al Khaleej Sugar.<\/p>\n

ADVISORS-<\/strong> \u200b\u200bHelmy, Hamza and Partners (Baker McKenzie\u2019s Cairo office) acted as legal counsel to the lenders, according to a press release (pdf)<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Canal Sugar Company has secured loans worth EGP 12.5 bn from a consortium of 10 banks led by the National Bank of Egypt (NBE) to help finance its USD 1 bnsugar beet processing facility in West Minya, according to a press release (pdf) from the NBE. A portion of the funds will go towards refinancing […]<\/p>\n","protected":false},"author":1,"featured_media":546376,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7274],"tags":[1862,7106,88,72,131],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-canal-sugar-company","tag-debt","tag-debt-watch","tag-enterpriseam","tag-manufacturing","wpautop","entry"],"acf":{"mongo_id":"0ea3d79c-8541-48ce-8a8c-4980215b9a1b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/5\/172.jpg","photo_position":"above","related_issue":[546369],"teaser":"","voice_url":""},"yoast_head":"\nCanal Sugar Company gets EGP 12.5 bn syndicated loan for sugar beet factory - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/15\/canal-sugar-company-gets-egp-12-5-bn-syndicated-loan-for-sugar-beet-factory\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canal Sugar Company gets EGP 12.5 bn syndicated loan for sugar beet factory\" \/>\n<meta property=\"og:description\" content=\"Canal Sugar Company has secured loans worth EGP 12.5 bn from a consortium of 10 banks led by the National Bank of Egypt (NBE) to help finance its USD 1 bnsugar beet processing facility in West Minya, according to a press release (pdf) from the NBE. 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The NBE is\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574527,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/13\/whos-in-the-market-for-debt-rooya-monorail-canal-sugar\/","url_meta":{"origin":546375,"position":1},"title":"Who\u2019s in the market for debt? Rooya, monorail, Canal Sugar","author":"enterpriseam admin","date":"13 September 2020","format":false,"excerpt":"Weekends are usually a quiet time for the customary leaks in bankers\u2019 never-ending quest for a bit for PR on the issue of why (may be) loaning what to whom. Among the highlights: Real estate developer Rooya is said to be in the market for EGP 2 bn in finance\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":633055,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/26\/nbe-looks-into-arranging-a-usd-400-mn-loan-for-al-canal-sugar-factory\/","url_meta":{"origin":546375,"position":2},"title":"NBE looks into arranging a USD 400 mn loan for Al Canal Sugar factory","author":"enterpriseam admin","date":"26 February 2018","format":false,"excerpt":"The National Bank of Egypt is studying arranging a USD 400 mn loan to finance the establishment of the Saudi Al Ghurair Group\u2019s USD 1 bn Al Canal sugar beet processing factory in Minya, unnamed banking sources tell Al Shorouk. First Abu Dhabi Bank, the Arab African International Bank, Qatar\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601810,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/11\/al-canal-sugar-signs-egp-1-2-bn-usd-100-mn-bridge-loan-deal\/","url_meta":{"origin":546375,"position":3},"title":"Al Canal Sugar signs EGP 1.2 bn, USD 100 mn bridge loan deal","author":"enterpriseam admin","date":"11 March 2019","format":false,"excerpt":"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\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559570,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/26\/nbe-to-help-fund-abu-qir-port-expansion\/","url_meta":{"origin":546375,"position":4},"title":"NBE to help fund Abu Qir port expansion","author":"enterpriseam admin","date":"26 January 2021","format":false,"excerpt":"The National Bank of Egypt (NBE) is leading a EGP 7.5 bn syndicated loan to finance the building of a new shipping container terminal at Abu Qir port, Al Mal, citing anonymous sources. The state-owned bank will act as the lead arranger for the loan, with a syndicate of banks\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":626973,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/16\/bdc-studies-participation-in-egp-2-3-bn-loan-to-al-ghurair-groups-al-canal-sugar\/","url_meta":{"origin":546375,"position":5},"title":"BdC studies participation in EGP 2.3 bn loan to Al Ghurair Group\u2019s Al Canal Sugar","author":"enterpriseam admin","date":"16 July 2018","format":false,"excerpt":"Banque du Caire (BdC) is considering joining a consortium of local banks in providing Al Ghurair Group\u2019s Al Canal Sugar with a EGP 2.3 bn short-term bridge loan that will be used to fund its USD 1 bn sugar refinery, Al Shorouk reports. Qatar National Bank Ahli, AlexBank, National Bank\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546375"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546375\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546369"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546376"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546375"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546375"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}