Banque Misr’s Contribution to the loan of Suez Cement Co. in support of the Egyptian Industry
To activate the Bank’s leading role in boosting the national economy, Banque Misr has contributed to the syndicated loan to Suez Cement Co. which totaled L.E.1200 million. Mr. Mohamed Ozalb, Vice Chairman, signed the loan protocol.
Suez Cement Co. is a leading company in the cement industry in Egypt. The total amount of the loan, L.E.1200 million, is divided into two segments: first segment is L.E. 900 million as a middle- term loan for four years and the second segment is L.E. is 300 million as a revolving facility for four years. The Bank’s share in the loan is L.E. 240 million – 20% of the total amount of the loan.
The Commercial International Bank (CIB) acts as loan agent and coverage guarantor ; and Bank of Alexandria, Credit Agricole, Arab African Bank, Cairo Barclays Bank, PNB Paribas, National Societe Generale Bank, HSBC -all act as loan guarantors.