{"id":562491,"date":"2021-05-26T04:01:03","date_gmt":"2021-05-26T04:01:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/26\/third-tranche-of-jpmorgan-railway-loan-coming-soon-nbe-seeks-usd-1-bn-syndicated-loan-for-debt-refinance\/"},"modified":"2021-05-26T04:01:03","modified_gmt":"2021-05-26T04:01:03","slug":"third-tranche-of-jpmorgan-railway-loan-coming-soon-nbe-seeks-usd-1-bn-syndicated-loan-for-debt-refinance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/26\/third-tranche-of-jpmorgan-railway-loan-coming-soon-nbe-seeks-usd-1-bn-syndicated-loan-for-debt-refinance\/","title":{"rendered":"Third tranche of JPMorgan railway loan coming soon + NBE seeks USD 1 bn syndicated loan for debt refinance"},"content":{"rendered":"

<\/a> Egypt could get the third USD 335 mn tranche of a JPMorgan loan to finance the<\/strong> construction of two monorail lines within four months<\/strong>, according to a report in Al Mal\u2019s print <\/sup>edition this morning that cites unnamed sources. The Transport Ministry is reportedly in talks with the lender to move ahead with the necessary steps to unlock the next installment as part of a wider lending agreement, but the total value of the loan is still unclear. Egypt had received the first USD 332 mn tranche<\/a> in October, and reportedly took receipt of a second tranche, the newspaper says, without disclosing its size.<\/p>\n

The funding is being used to construct two monorail lines <\/strong>\u2014 one a 54-km line from the new administrative capital to Cairo Stadium Station (expected to be completed in 2022), and the other linking Gameat El Dewal Station to Sixth of October through a 42-km line (scheduled for completion in 2023). A consortium led by Bombardier, Orascom Construction, and Arab Contractors signed a 30-year contract<\/a> for the construction and maintenance of the lines in 2019, with Orascom and Bombardier breaking ground<\/a> on the new capital-Nasr City line last May.<\/p>\n

State-owned National Bank of Egypt (NBE) is close to raising a three-year USD 1<\/strong> bn syndicated loan package<\/strong> from a group of banks that will be \u201cpartly used to refinance existing debt,\u201d Bloomberg<\/a> reported, citing unnamed sources with knowledge of the matter. \u201c[The transaction] was conducted within the bank\u2019s normal course of business and timed to take advantage of the preferential market and interest rate conditions currently prevailing,\u201d said the NBE\u2019s head of financial institutions Hesham Elsafty.<\/p>\n

Bloomberg quotes unnamed sources who said the bank wants to narrow the margin on its new facility by 40 basis points<\/strong> to 230 bps, but did not name the banks involved in the transaction, provide a timeline on when NBE would get its hands on the funding, or specify the number of tranches into which the facility would be divided.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt could get the third USD 335 mn tranche of a JPMorgan loan to finance the construction of two monorail lines within four months, according to a report in Al Mal\u2019s print edition this morning that cites unnamed sources. The Transport Ministry is reportedly in talks with the lender to move ahead with the necessary […]<\/p>\n","protected":false},"author":1,"featured_media":562492,"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":[7106,88,72,4022,213,262,207,208],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt","tag-debt-watch","tag-enterpriseam","tag-hesham-elsafty","tag-infrastructure-watch","tag-jpmorgan","tag-transport","tag-transport-ministry","wpautop","entry"],"acf":{"mongo_id":"cdd0a072-bb1b-49be-a141-f7ed73b40f18","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/5\/231.jpg","photo_position":"above","related_issue":[562483],"teaser":"","voice_url":""},"yoast_head":"\nThird tranche of JPMorgan railway loan coming soon + NBE seeks USD 1 bn syndicated loan for debt refinance - 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\/05\/26\/third-tranche-of-jpmorgan-railway-loan-coming-soon-nbe-seeks-usd-1-bn-syndicated-loan-for-debt-refinance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Third tranche of JPMorgan railway loan coming soon + NBE seeks USD 1 bn syndicated loan for debt refinance\" \/>\n<meta property=\"og:description\" content=\"Egypt could get the third USD 335 mn tranche of a JPMorgan loan to finance the construction of two monorail lines within four months, according to a report in Al Mal\u2019s print edition this morning that cites unnamed sources. 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This amount is the advance payment the National Authority for Tunnels has made to 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":555680,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/govt-finalizes-usd-2-bn-loan-from-intl-banking-syndicate\/","url_meta":{"origin":562491,"position":2},"title":"Gov\u2019t finalizes USD 2 bn loan from int'l banking syndicate","author":"enterpriseam admin","date":"23 November 2021","format":false,"excerpt":"The government\u2019s USD 2 bn syndicated bank loan has been finalized and is awaiting approval in the House of Representatives, Finance Minister Mohamed Maait told CNBC Arabia (watch, runtime: 00:45), confirming earlier press reports of ongoing talks with 10 international banks. The facility will reportedly be divided into 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":586205,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/08\/jpmorgan-expects-an-imf-review-in-june-but-warns-on-medium-term-debt-outlook\/","url_meta":{"origin":562491,"position":3},"title":"JPMorgan expects an IMF review in June but warns on medium-term debt outlook","author":"enterpriseam admin","date":"8 May 2023","format":false,"excerpt":"JPM says the most likely scenario is that we reach a staff-level agreement on the pending review, unlocking fresh cash","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/407.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593048,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/17\/egypt-successfully-closes-usd-2-bn-triple-tranche-eurobond-issuance\/","url_meta":{"origin":562491,"position":4},"title":"Egypt successfully closes USD 2 bn triple-tranche eurobond issuance","author":"enterpriseam admin","date":"17 November 2019","format":false,"excerpt":"Egypt successfully closes USD 2 bn triple-tranche eurobond issuance in first int\u2019l debt auction for FY2019-2020: Egypt sold USD 2 bn-worth of four-, 12-, and 40-year USD-denominated eurobonds in an issuance that went to market on the Luxembourg Stock Exchange on Thursday, the Finance Ministry said. The offering was more\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\/2020\/1\/738.jpg?fit=%2C&ssl=1&resize=350%2C200","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":562491,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562491","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=562491"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562491\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562483"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/562492"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=562491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=562491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=562491"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=562491"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=562491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}