{"id":556411,"date":"2021-10-25T04:24:14","date_gmt":"2021-10-25T04:24:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/25\/telecom-egypt-secures-usd-500-mn-loan-from-international-banks\/"},"modified":"2021-10-25T04:24:14","modified_gmt":"2021-10-25T04:24:14","slug":"telecom-egypt-secures-usd-500-mn-loan-from-international-banks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/25\/telecom-egypt-secures-usd-500-mn-loan-from-international-banks\/","title":{"rendered":"Telecom Egypt secures USD 500 mn loan from international banks"},"content":{"rendered":"

<\/a> Telecom Egypt has <\/strong>signed a USD 50<\/strong>0 mn medium-term loan agreement <\/strong>with a syndicate of 11 international banks, the company announced in a statement<\/a>(pdf)<\/a> dated Thursday but posted on EGX screens yesterday. The state-owned firm will use the financing to restructure its short-term USD overdrafts into longer-term loans and to fund capital expenditure, according to the statement. TE did not disclose the tenor of the loan but anonymous sources said earlier this month<\/a> that it would be repayable over six years.<\/p>\n

First Abu Dhabi Bank (FAB) and Mashreq Bank led the 11-strong syndicate<\/strong> of banks financing the loan as joint coordinators, underwriters, lead arrangers and bookrunners.<\/p>\n

This is the first time the company has tapped international debt markets since 2018,<\/strong> when it signed a similar five-year, USD 500 mn loan<\/a> with a 13-bank syndicate, also led by FAB and Mashreq Bank.<\/p>\n","protected":false},"excerpt":{"rendered":"

Telecom Egypt has signed a USD 500 mn medium-term loan agreement with a syndicate of 11 international banks, the company announced in a statement(pdf) dated Thursday but posted on EGX screens yesterday. The state-owned firm will use the financing to restructure its short-term USD overdrafts into longer-term loans and to fund capital expenditure, according to […]<\/p>\n","protected":false},"author":1,"featured_media":556412,"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":[1628,7106,88,72,882,2373,212],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-556411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-ahli-united-bank","tag-debt","tag-debt-watch","tag-enterpriseam","tag-first-abu-dhabi-bank","tag-mashreq-bank","tag-telecom-egypt","wpautop","entry"],"acf":{"mongo_id":"aef1d5ca-1331-4da9-83ea-4fe889768636","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/10\/260.jpg","photo_position":"above","related_issue":[556401],"teaser":"","voice_url":""},"yoast_head":"\nTelecom Egypt secures USD 500 mn loan from international banks - 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\/25\/telecom-egypt-secures-usd-500-mn-loan-from-international-banks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Telecom Egypt secures USD 500 mn loan from international banks\" \/>\n<meta property=\"og:description\" content=\"Telecom Egypt has signed a USD 500 mn medium-term loan agreement with a syndicate of 11 international banks, the company announced in a statement(pdf) dated Thursday but posted on EGX screens yesterday. The state-owned firm will use the financing to restructure its short-term USD overdrafts into longer-term loans and to fund capital expenditure, according to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/25\/telecom-egypt-secures-usd-500-mn-loan-from-international-banks\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-25T04:24:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/260.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\/25\/telecom-egypt-secures-usd-500-mn-loan-from-international-banks\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/25\/telecom-egypt-secures-usd-500-mn-loan-from-international-banks\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Telecom Egypt secures USD 500 mn loan from international banks\",\"datePublished\":\"2021-10-25T04:24:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/25\/telecom-egypt-secures-usd-500-mn-loan-from-international-banks\/\"},\"wordCount\":147,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/25\/telecom-egypt-secures-usd-500-mn-loan-from-international-banks\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/260.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Ahli United Bank\",\"debt\",\"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\/25\/telecom-egypt-secures-usd-500-mn-loan-from-international-banks\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/25\/telecom-egypt-secures-usd-500-mn-loan-from-international-banks\/\",\"name\":\"Telecom Egypt secures USD 500 mn loan from international banks - 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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. 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The facility will be divided into a USD 1 bn Islamic financing tranche and a USD\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":553911,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/gulf-banking-syndicate-disburses-usd-3-bn-loan-to-egypt-govt\/","url_meta":{"origin":556411,"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 "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\/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":556411,"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 "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\/2021\/4\/233.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555717,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/24\/shut-up-and-take-my-money\/","url_meta":{"origin":556411,"position":4},"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 "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\/2021\/11\/580.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":625743,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/14\/uae-banks-to-raise-usd-500-mn-syndicated-loan-for-te\/","url_meta":{"origin":556411,"position":5},"title":"UAE banks to raise USD 500 mn syndicated loan for TE","author":"enterpriseam admin","date":"14 August 2018","format":false,"excerpt":"UAE banks to raise USD 500 mn syndicated loan for TE: The state-owned Telecom Egypt (TE) has tapped First Abu Dhabi Bank and Mashreqbank to act as joint arrangers for a USD 500 mn, five-year syndicated facility, Reuters reports, citing a statement from the banks. 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