{"id":629334,"date":"2018-05-28T04:14:47","date_gmt":"2018-05-28T04:14:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/28\/te-to-use-usd-90-mn-of-usd-200-mn-facility-from-afreximbank-to-finance-mena-cables-acquisition\/"},"modified":"2018-05-28T04:14:47","modified_gmt":"2018-05-28T04:14:47","slug":"te-to-use-usd-90-mn-of-usd-200-mn-facility-from-afreximbank-to-finance-mena-cables-acquisition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/28\/te-to-use-usd-90-mn-of-usd-200-mn-facility-from-afreximbank-to-finance-mena-cables-acquisition\/","title":{"rendered":"TE to use USD 90 mn of USD 200 mn facility from Afreximbank to finance MENA Cables acquisition"},"content":{"rendered":"

Telecom Egypt (TE) is reportedly planning to use USD 90 mn of a USD 200 mn short-term loan agreement with the African Export-Import Bank (AfreximBank) to finance its acquisition of Orascom Telecom Media and Technology (OTMT) subsidiary MENA Cables, a banking source tells Al Shorouk<\/a>. The state-owned landline monopoly signed the loan agreement<\/a> last week to \u201cfinance working capital and investments in Telecom Egypt\u2019s infrastructure,\u201d according to the company. TE subsidiary Egyptian International Submarine Cables Company (EISCC) had executed a sale and purchase agreement<\/a> for the USD 90 mn acquisition of MENA Cables last week, expecting the transaction to close in c. 60 days as conditions precedent are satisfied.<\/p>\n","protected":false},"excerpt":{"rendered":"

Telecom Egypt (TE) is reportedly planning to use USD 90 mn of a USD 200 mn short-term loan agreement with the African Export-Import Bank (AfreximBank) to finance its acquisition of Orascom Telecom Media and Technology (OTMT) subsidiary MENA Cables, a banking source tells Al Shorouk. The state-owned landline monopoly signed the loan agreement last week […]<\/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":[9290],"tags":[72,2369],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-629334","post","type-post","status-publish","format-standard","hentry","category-telecoms-ict","tag-enterpriseam","tag-telecoms-ict","wpautop","entry"],"acf":{"mongo_id":"8d432007-6640-4d06-a4d9-4b5001432262","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","full_issue_title":"TE to use USD 90 mn of USD 200 mn facility from Afreximbank to finance MENA Cables acquisition","related_issue":[629299],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.2ea77a52-9827-45c6-89e4-f2aa98a5c4f7.mp3"},"yoast_head":"\nTE to use USD 90 mn of USD 200 mn facility from Afreximbank to finance MENA Cables acquisition - 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\/05\/28\/te-to-use-usd-90-mn-of-usd-200-mn-facility-from-afreximbank-to-finance-mena-cables-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TE to use USD 90 mn of USD 200 mn facility from Afreximbank to finance MENA Cables acquisition\" \/>\n<meta property=\"og:description\" content=\"Telecom Egypt (TE) is reportedly planning to use USD 90 mn of a USD 200 mn short-term loan agreement with the African Export-Import Bank (AfreximBank) to finance its acquisition of Orascom Telecom Media and Technology (OTMT) subsidiary MENA Cables, a banking source tells Al Shorouk. The state-owned landline monopoly signed the loan agreement last week […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/28\/te-to-use-usd-90-mn-of-usd-200-mn-facility-from-afreximbank-to-finance-mena-cables-acquisition\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-28T04:14:47+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\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\/2018\/05\/28\/te-to-use-usd-90-mn-of-usd-200-mn-facility-from-afreximbank-to-finance-mena-cables-acquisition\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/28\/te-to-use-usd-90-mn-of-usd-200-mn-facility-from-afreximbank-to-finance-mena-cables-acquisition\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"TE to use USD 90 mn of USD 200 mn facility from Afreximbank to finance MENA Cables acquisition\",\"datePublished\":\"2018-05-28T04:14:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/28\/te-to-use-usd-90-mn-of-usd-200-mn-facility-from-afreximbank-to-finance-mena-cables-acquisition\/\"},\"wordCount\":122,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"Telecoms + ICT\"],\"articleSection\":[\"Telecoms + ICT\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/28\/te-to-use-usd-90-mn-of-usd-200-mn-facility-from-afreximbank-to-finance-mena-cables-acquisition\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/28\/te-to-use-usd-90-mn-of-usd-200-mn-facility-from-afreximbank-to-finance-mena-cables-acquisition\/\",\"name\":\"TE to use USD 90 mn of USD 200 mn facility from Afreximbank to finance MENA Cables acquisition - 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ICT","link":"https:\/\/enterpriseam.com\/egypt\/category\/telecoms-ict\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":628734,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/13\/te-to-acquire-otmts-mena-cables-in-usd-90-mn-transaction-obtain-long-term-usd-credit-facilities\/","url_meta":{"origin":629334,"position":2},"title":"TE to acquire OTMT\u2019s MENA Cables in USD 90 mn transaction, obtain long-term USD credit facilities","author":"enterpriseam admin","date":"13 May 2018","format":false,"excerpt":"M&A WATCH- TE to acquire OTMT\u2019s MENA Cables in USD 90 mn transaction, obtain long-term USD credit facilities: Telecom Egypt (TE) announced on Thursday\u00a0that its board of directors has signed off on the decision to acquire Orascom Telecom and Media Technology\u2019s (OTMT) MENA Submarine Cables Systems in a USD 90\u2026","rel":"","context":"In "Speed 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TE is currently confluding negotiations with Orascom\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":628888,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/16\/te-mena-cables-reach-final-agreement-on-acquisition\/","url_meta":{"origin":629334,"position":4},"title":"TE, MENA Cables reach final agreement on acquisition","author":"enterpriseam admin","date":"16 May 2018","format":false,"excerpt":"M&A WATCH- TE, MENA Cables reach final agreement on acquisition: Telecom Egypt and MENA Submarine Cables System have reached a final agreement on all the details of TE\u2019s USD 90 mn acquisition of MENA Cables, sources close to the transaction tell Al Mal. Orascom Telecom Media and Technology (OTMT) 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":624668,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/16\/te-allocates-usd-10-mn-to-maintenance-and-operations-work-on-subsea-mena-cable\/","url_meta":{"origin":629334,"position":5},"title":"TE allocates USD 10 mn to maintenance and operations work on subsea MENA cable","author":"enterpriseam admin","date":"16 September 2018","format":false,"excerpt":"Telecom Egypt has reportedly allocated USD 10 mn to installation and maintenance work on its subsea MENA cable, sources tell Al Mal. 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