{"id":555942,"date":"2021-10-04T04:14:16","date_gmt":"2021-10-04T04:14:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/04\/telecom-egypt-looks-to-secure-usd-500-mn-loan\/"},"modified":"2021-10-04T04:14:16","modified_gmt":"2021-10-04T04:14:16","slug":"telecom-egypt-looks-to-secure-usd-500-mn-loan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/04\/telecom-egypt-looks-to-secure-usd-500-mn-loan\/","title":{"rendered":"Telecom Egypt looks to secure USD 500 mn loan"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>State-owned Telecom Egypt is looking for some USD 500 mn in financing<\/strong> from a syndicate of international banks, unnamed banking sources told <a href=\"https:\/\/bit.ly\/3mo5AMG\">CNBC Arabia<\/a>. The company has appointed the First Abu Dhabi Bank and Mashreq Bank to arrange the facility, which is expected to have a six-year repayment term. We were unable yesterday to reach a company representative for comment.<\/p>\n<p><strong>This will be the first time the company taps international debt markets since 2018<\/strong>, when TE <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1334383\">borrowed USD 500 mn<\/a> from a syndicate of 14 Arab, Asian and British banks.<\/p>\n<p><strong>The funding will be used to refinance the company\u2019s short-term debt <\/strong>and fund capital expenditure, CNBC suggests.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-owned Telecom Egypt is looking for some USD 500 mn in financing from a syndicate of international banks, unnamed banking sources told CNBC Arabia. The company has appointed the First Abu Dhabi Bank and Mashreq Bank to arrange the facility, which is expected to have a six-year repayment term. We were unable yesterday to reach [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":555943,"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":[88,72,882,2373,212],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseam","tag-first-abu-dhabi-bank","tag-mashreq-bank","tag-telecom-egypt","wpautop","entry"],"acf":{"mongo_id":"32c9a077-ad73-464e-8cfa-9a741f51de72","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/10\/44.jpg","photo_position":"above","related_issue":[555934],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Telecom Egypt looks to secure USD 500 mn loan - 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\/2021\/10\/04\/telecom-egypt-looks-to-secure-usd-500-mn-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Telecom Egypt looks to secure USD 500 mn loan\" \/>\n<meta property=\"og:description\" content=\"State-owned Telecom Egypt is looking for some USD 500 mn in financing from a syndicate of international banks, unnamed banking sources told CNBC Arabia. The company has appointed the First Abu Dhabi Bank and Mashreq Bank to arrange the facility, which is expected to have a six-year repayment term. We were unable yesterday to reach [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/04\/telecom-egypt-looks-to-secure-usd-500-mn-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-04T04:14:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/44.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/04\/telecom-egypt-looks-to-secure-usd-500-mn-loan\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/04\/telecom-egypt-looks-to-secure-usd-500-mn-loan\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Telecom Egypt looks to secure USD 500 mn loan\",\"datePublished\":\"2021-10-04T04:14:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/04\/telecom-egypt-looks-to-secure-usd-500-mn-loan\/\"},\"wordCount\":112,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/04\/telecom-egypt-looks-to-secure-usd-500-mn-loan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/44.jpg?fit=%2C&ssl=1\",\"keywords\":[\"debt watch\",\"EnterpriseAM\",\"First Abu Dhabi Bank\",\"Mashreq Bank\",\"Telecom Egypt\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/04\/telecom-egypt-looks-to-secure-usd-500-mn-loan\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/04\/telecom-egypt-looks-to-secure-usd-500-mn-loan\/\",\"name\":\"Telecom Egypt looks to secure USD 500 mn loan - 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The state-owned firm will use the financing to restructure its short-term USD overdrafts into longer-term loans and to\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/260.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555450,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/15\/intl-banking-syndicate-to-provide-govt-with-usd-2-bn-islamic-esg-loan\/","url_meta":{"origin":555942,"position":1},"title":"Int\u2019l banking syndicate to provide gov\u2019t with USD 2 bn Islamic + ESG loan","author":"enterpriseam admin","date":"15 November 2021","format":false,"excerpt":"A syndicate of 10 regional and international banks are providing the USD 2 bn loan the Madbouly government is raising to finance green projects and plug budget shortfalls, Al Shorouk reports, citing unnamed sources. The facility will be divided into a USD 1 bn Islamic financing tranche and a USD\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","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":553911,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/gulf-banking-syndicate-disburses-usd-3-bn-loan-to-egypt-govt\/","url_meta":{"origin":555942,"position":2},"title":"Gulf banking syndicate disburses USD 3 bn loan to Egypt gov\u2019t","author":"enterpriseam admin","date":"13 December 2021","format":false,"excerpt":"The Gulf banking syndicate that agreed last month to lend USD 3 bn to the Egyptian government has disbursed the funding, Al Shorouk reports, citing unnamed sources. The three-year loan is being arranged by First Abu Dhabi Bank and Emirates NBD, and is split 50-50, with USD 1.5 bn allocated\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/319.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561830,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/22\/evergrow-is-restructuring-its-debts\/","url_meta":{"origin":555942,"position":3},"title":"Evergrow is restructuring its debts","author":"enterpriseam admin","date":"22 April 2021","format":false,"excerpt":"Egyptian fertilizer company Evergrow has signed a USD 400 mn loan agreement with a syndicate of 12 banks led by Mashreq Bank and the National Bank of Egypt (NBE), who acted as the facility arrangers, Hapi Journal reports, citing a company statement. Some USD 326 mn will be used to\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/233.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560655,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/08\/globalcorp-aims-to-double-its-lending-portfolio-nowpay-eyes-new-fintech-products\/","url_meta":{"origin":555942,"position":4},"title":"GlobalCorp aims to double its lending portfolio + NowPay eyes new fintech products","author":"enterpriseam admin","date":"8 March 2021","format":false,"excerpt":"We have a smattering of debt + finance news to take note of this morning:Non-banking financial services provider GlobalCorp plans to double its lendingportfolio to EGP 6 bn this year. The Ezdehar-backed lender will ramp up its factoring and leasing services to companies in the construction, health, food and education\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","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":555717,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/24\/shut-up-and-take-my-money\/","url_meta":{"origin":555942,"position":5},"title":"Shut up and take my money","author":"enterpriseam admin","date":"24 November 2021","format":false,"excerpt":"Have another USD 1 bn: Egypt may be taking out a bigger bank loan than previously disclosed thanks to heavy appetite from lenders lining up to participate in a USD 3 bn facility from a group of international banks \u2014 that\u2019s USD 1 bn more than originally anticipated, Reuters reported\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/580.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555942","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=555942"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555942\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555934"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/555943"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555942"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=555942"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=555942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}