{"id":645147,"date":"2017-07-12T04:16:52","date_gmt":"2017-07-12T04:16:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/12\/telecom-egypt-signs-agreement-to-borrow-egp-13-bn-from-banking-consortium\/"},"modified":"2017-07-12T04:16:52","modified_gmt":"2017-07-12T04:16:52","slug":"telecom-egypt-signs-agreement-to-borrow-egp-13-bn-from-banking-consortium","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/12\/telecom-egypt-signs-agreement-to-borrow-egp-13-bn-from-banking-consortium\/","title":{"rendered":"Telecom Egypt signs agreement to borrow EGP 13 bn from banking consortium"},"content":{"rendered":"

Telecom Egypt (TE) signed an agreement with the National Bank of Egypt to arrange a EGP 13 bn loan<\/a> from a consortium of banks to upgrade its infrastructure and mobile internet services, Al Mal reports<\/a>. CIB, QNB Al Ahli Bank, Banque Misr, and Credit Agricole will contribute to the loan. The state-owned landline monopoly is racking up expenditures on launching its 4G network, which may drive it to consider exiting its 45% stake in Vodafone Egypt, Beltone Financial predicts, according to Al Borsa<\/a>. The investment bank expects TE to direct the funds towards funding the EGP 7 bn it must pay by 2021 for its 4G network license. Beltone also sees TE as being the mobile network operator most negatively affected by last week\u2019s interest rate hikes, as it has relied on credit facilities to finance its 4G license and infrastructure.<\/p>\n","protected":false},"excerpt":{"rendered":"

Telecom Egypt (TE) signed an agreement with the National Bank of Egypt to arrange a EGP 13 bn loan from a consortium of banks to upgrade its infrastructure and mobile internet services, Al Mal reports. CIB, QNB Al Ahli Bank, Banque Misr, and Credit Agricole will contribute to the loan. The state-owned landline monopoly is […]<\/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-645147","post","type-post","status-publish","format-standard","hentry","category-telecoms-ict","tag-enterpriseam","tag-telecoms-ict","wpautop","entry"],"acf":{"mongo_id":"c372c1a8-d934-4686-a426-6a857ef49ba7","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[645111],"teaser":"","voice_url":""},"yoast_head":"\nTelecom Egypt signs agreement to borrow EGP 13 bn from banking consortium - 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\/2017\/07\/12\/telecom-egypt-signs-agreement-to-borrow-egp-13-bn-from-banking-consortium\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Telecom Egypt signs agreement to borrow EGP 13 bn from banking consortium\" \/>\n<meta property=\"og:description\" content=\"Telecom Egypt (TE) signed an agreement with the National Bank of Egypt to arrange a EGP 13 bn loan from a consortium of banks to upgrade its infrastructure and mobile internet services, Al Mal reports. CIB, QNB Al Ahli Bank, Banque Misr, and Credit Agricole will contribute to the loan. 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The first EGP 2 bn agreement will see TE\u2019s transmission and infrastructure services' commercial model developed with Etisalat on an annual basis for the next three and\u2026","rel":"","context":"In "Telecoms + ICT"","block_context":{"text":"Telecoms + 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":595198,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/18\/te-to-complete-work-on-govt-district-in-nac-by-end-of-1h2020\/","url_meta":{"origin":645147,"position":2},"title":"TE to complete work on gov\u2019t district in NAC by end of 1H2020","author":"enterpriseam admin","date":"18 September 2019","format":false,"excerpt":"State-owned landline monopoly Telecom Egypt (TE) expects to complete telecommunication services for the new administrative capital\u2019s government district by the end of 1H2020, CEO Adel Hamed said, according to Mubasher. TE began working last week on an EGP 40 bn (c. 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The company has already invested north of USD 3 bn to improve the country\u2019s internet infrastructure, Shamroukh added. 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