{"id":604642,"date":"2018-12-09T04:30:00","date_gmt":"2018-12-09T04:30:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/09\/consortium-to-provide-egpc-with-usd-750-mn-loan-for-arrears\/"},"modified":"2018-12-09T04:30:00","modified_gmt":"2018-12-09T04:30:00","slug":"consortium-to-provide-egpc-with-usd-750-mn-loan-for-arrears","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/09\/consortium-to-provide-egpc-with-usd-750-mn-loan-for-arrears\/","title":{"rendered":"Consortium to provide EGPC with USD 750 mn loan for arrears"},"content":{"rendered":"

A Mashreq Bank-First Abu Dhabi Bank-HSBC consortium is arranging a USD 750 mn, five-year loan for the Egyptian General Petroleum Corporation (EGPC), which will be used to pay off arrears to international oil companies, banking sources told Al Shorouk<\/a>. Each of the three banks will contribute an equal share to the loan. The final contracts are expected to be signed in a week, and the loan should be disbursed before 28 December, sources said.<\/p>\n","protected":false},"excerpt":{"rendered":"

A Mashreq Bank-First Abu Dhabi Bank-HSBC consortium is arranging a USD 750 mn, five-year loan for the Egyptian General Petroleum Corporation (EGPC), which will be used to pay off arrears to international oil companies, banking sources told Al Shorouk. Each of the three banks will contribute an equal share to the loan. The final contracts […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[9298],"tags":[204,2372,557,72,7087,882,490,2373],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-604642","post","type-post","status-publish","format-standard","hentry","category-banking-finance","tag-banking","tag-banking-finance","tag-egyptian-general-petroleum-corporation","tag-enterpriseam","tag-finance","tag-first-abu-dhabi-bank","tag-hsbc","tag-mashreq-bank","wpautop","entry"],"acf":{"mongo_id":"5c641df3-28e5-41ee-b2ee-7051e2903928","order":"0","is_powered_by":true,"section_story_id":"1405940b-dee5-4542-9720-41b47fcd621b","story_type":"1","photo_url":"","photo_position":"above","related_issue":[604602],"teaser":"","voice_url":""},"yoast_head":"\nConsortium to provide EGPC with USD 750 mn loan for arrears - 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\/2018\/12\/09\/consortium-to-provide-egpc-with-usd-750-mn-loan-for-arrears\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Consortium to provide EGPC with USD 750 mn loan for arrears\" \/>\n<meta property=\"og:description\" content=\"A Mashreq Bank-First Abu Dhabi Bank-HSBC consortium is arranging a USD 750 mn, five-year loan for the Egyptian General Petroleum Corporation (EGPC), which will be used to pay off arrears to international oil companies, banking sources told Al Shorouk. Each of the three banks will contribute an equal share to the loan. The final contracts […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/09\/consortium-to-provide-egpc-with-usd-750-mn-loan-for-arrears\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-09T04:30:00+00:00\" \/>\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<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/09\/consortium-to-provide-egpc-with-usd-750-mn-loan-for-arrears\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/09\/consortium-to-provide-egpc-with-usd-750-mn-loan-for-arrears\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Consortium to provide EGPC with USD 750 mn loan for arrears\",\"datePublished\":\"2018-12-09T04:30:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/09\/consortium-to-provide-egpc-with-usd-750-mn-loan-for-arrears\/\"},\"wordCount\":82,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"banking\",\"BANKING + FINANCE\",\"Egyptian General Petroleum Corporation\",\"EnterpriseAM\",\"Finance\",\"First Abu Dhabi Bank\",\"HSBC\",\"Mashreq Bank\"],\"articleSection\":[\"Banking + Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/09\/consortium-to-provide-egpc-with-usd-750-mn-loan-for-arrears\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/09\/consortium-to-provide-egpc-with-usd-750-mn-loan-for-arrears\/\",\"name\":\"Consortium to provide EGPC with USD 750 mn loan for arrears - 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The facility will be used to partially repay the debts owed by EGPC subsidiary, Petroleum Export Limited, to foreign partners. We\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":634169,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/08\/egpc-subsidiaries-seeking-egp-10-bn-loan\/","url_meta":{"origin":604642,"position":1},"title":"EGPC subsidiaries seeking EGP 10 bn loan","author":"enterpriseam admin","date":"8 January 2018","format":false,"excerpt":"Misr Petroleum Company and Co-operation Petroleum Company are in talks with a local banking consortium to secure a EGP 10 bn loan, undisclosed sources told Al Mal. The two companies, both subsidiaries of the Egyptian General Petroleum Company (EGPC), are hoping to double an old loan of the same amount\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":623489,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/31\/midor-signs-usd-1-2-bn-loan-agreement-with-three-eu-banks\/","url_meta":{"origin":604642,"position":2},"title":"MIDOR signs USD 1.2 bn loan agreement with three EU banks","author":"enterpriseam admin","date":"31 October 2018","format":false,"excerpt":"State-owned company Middle East Oil Refinery (MIDOR) was meant to have signed yesterday the final contracts for a 10-year USD 1.2 bn syndicated loan from Cr\u00e9dit Agricole, BNP Paribas, and Italy\u2019s CDP, sources said. The loan, which should carry an interest rate of 6%, will be used to finance USD\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":626896,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/15\/egpc-taps-hsbc-to-arrange-usd-1-bn-syndicated-loan\/","url_meta":{"origin":604642,"position":3},"title":"EGPC taps HSBC to arrange USD 1 bn syndicated loan","author":"enterpriseam admin","date":"15 July 2018","format":false,"excerpt":"The EGPC has reportedly tapped HSBC to arrange a USD 1 bn syndicated facility, banking sources told Reuters over the weekend. The loan, which the sources said is being syndicated to other banks, will have a five-year maturity and will be used partially \u201cto pre-pay EGPC cargo deliveries.\u201c The facility\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":621517,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/11\/egpc-considering-usd-750-mn-loan-from-abroad\/","url_meta":{"origin":604642,"position":4},"title":"EGPC considering USD 750 mn loan from abroad","author":"enterpriseam admin","date":"11 November 2018","format":false,"excerpt":"The Egyptian General Petroleum Company (EGPC) is considering borrowing USD 750 mn from abroad, Amwal Al Ghad reports. EGPC had tapped HSBC in July to arrange a USD 1 bn syndicated loan, which would partially be used to pre-pay EGPC cargo deliveries. No agreement was reached on the facility.","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634004,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/02\/consortium-of-international-financing-institutions-arranging-usd-662-mn-facility-for-egpc\/","url_meta":{"origin":604642,"position":5},"title":"Consortium of international financing institutions arranging USD 662 mn facility for EGPC","author":"enterpriseam admin","date":"2 January 2018","format":false,"excerpt":"A consortium of international financing institutions is arranging a USD 662 mn short-term credit facility for the Egyptian General Petroleum Company (EGPC), unnamed sources tell Al Mal. The EGPC will use the facility to cover the costs of supplying Egypt\u2019s petroleum consumption. 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