Telecom Egypt has signed a financing agreement to obtain a $500 million medium-term syndicated loan from 11 allied banks.
The banks involved in the transaction include First Abu Dhabi Bank, Mashreq Bank, Bank of Jordan, and the Arab Bank of Bahrain.
“International Financial Institutions trusted us in the past three years, and it enabled Telecom Egypt to obtain a syndicated loan again estimated at EGP7.8 billion ($500 million),” Adel Hamed, director and chief executive officer of Telecom Egypt, said.
(Except for the headline, this story has not been edited by The Finance World staff and is published from a syndicated feed.)
