{"id":629910,"date":"2018-04-04T04:10:53","date_gmt":"2018-04-04T04:10:53","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/04\/te-says-it-is-still-seeking-an-egp-13-bn-facility-denies-it-has-been-pulled-by-banks\/"},"modified":"2018-04-04T04:10:53","modified_gmt":"2018-04-04T04:10:53","slug":"te-says-it-is-still-seeking-an-egp-13-bn-facility-denies-it-has-been-pulled-by-banks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/04\/te-says-it-is-still-seeking-an-egp-13-bn-facility-denies-it-has-been-pulled-by-banks\/","title":{"rendered":"TE says it is still seeking an EGP 13 bn facility, denies it has been pulled by banks"},"content":{"rendered":"

<\/a> TE says it is still seeking an EGP 13 bn facility. <\/strong>Telecom Egypt (TE) denied reports that a syndicate of banks including the National Bank of Egypt, CIB, QNB Al Ahli Bank, Banque Misr, and Credit Agricole have pulled the plug on an EGP 13 bn facility it signed last July with NBE, Reuters\u2019 Arabic service reports<\/a>. \u201cProcedures for the loan are going well and in normal course,\u201d TE said in response to the newswire\u2019s report earlier in the day.<\/p>\n

What\u2019s the background? <\/strong>Sources in the banking industry had told Reuters that the loan had been effectively \u201csuspended\u201d after the Central Bank of Egypt asked the lending banks to \u201cre-do the credit assessment in light of the company\u2019s new budget and performance outlook after it received the license to operate 4G services.\u201d The CBE also raised flags about TE\u2019s cash flows, the story suggests. TE signed the loan agreement with the National Bank of Egypt back in July<\/a> in bid to upgrade its infrastructure and mobile internet services since launching its own mobile network.<\/p>\n","protected":false},"excerpt":{"rendered":"

TE says it is still seeking an EGP 13 bn facility. Telecom Egypt (TE) denied reports that a syndicate of banks including the National Bank of Egypt, CIB, QNB Al Ahli Bank, Banque Misr, and Credit Agricole have pulled the plug on an EGP 13 bn facility it signed last July with NBE, Reuters\u2019 Arabic […]<\/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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-629910","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"9c0f36ba-ecf2-4b39-a8d6-922c4f414d33","order":"0","is_powered_by":true,"section_story_id":"6e13e650-67d2-429c-830e-674ce47883c8","story_type":"1","photo_url":"","photo_position":"above","related_issue":[629899],"teaser":"","voice_url":""},"yoast_head":"\nTE says it is still seeking an EGP 13 bn facility, denies it has been pulled by 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\/2018\/04\/04\/te-says-it-is-still-seeking-an-egp-13-bn-facility-denies-it-has-been-pulled-by-banks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TE says it is still seeking an EGP 13 bn facility, denies it has been pulled by banks\" \/>\n<meta property=\"og:description\" content=\"TE says it is still seeking an EGP 13 bn facility. Telecom Egypt (TE) denied reports that a syndicate of banks including the National Bank of Egypt, CIB, QNB Al Ahli Bank, Banque Misr, and Credit Agricole have pulled the plug on an EGP 13 bn facility it signed last July with NBE, Reuters\u2019 Arabic […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/04\/te-says-it-is-still-seeking-an-egp-13-bn-facility-denies-it-has-been-pulled-by-banks\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-04T04:10:53+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\/04\/04\/te-says-it-is-still-seeking-an-egp-13-bn-facility-denies-it-has-been-pulled-by-banks\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/04\/te-says-it-is-still-seeking-an-egp-13-bn-facility-denies-it-has-been-pulled-by-banks\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"TE says it is still seeking an EGP 13 bn facility, denies it has been pulled by banks\",\"datePublished\":\"2018-04-04T04:10:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/04\/te-says-it-is-still-seeking-an-egp-13-bn-facility-denies-it-has-been-pulled-by-banks\/\"},\"wordCount\":193,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/04\/te-says-it-is-still-seeking-an-egp-13-bn-facility-denies-it-has-been-pulled-by-banks\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/04\/te-says-it-is-still-seeking-an-egp-13-bn-facility-denies-it-has-been-pulled-by-banks\/\",\"name\":\"TE says it is still seeking an EGP 13 bn facility, denies it has been pulled by banks - 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