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In Support of the Egyptian Cement Industry

Banque Misr and National Bank of Egypt Arrange a Loan for

Al-Nahda Industrial Company

Banque Misr and the National Bank of Egypt have always been keen on upholding their role in supporting the national economy and financing economically viable projects in addition to backing the various industries that push forward the wheel of economic development. One of these industries has been the cement industry; significantly regarded by the government to have a positive effect on development rates.

Within this framework, a celebration was sponsored by a consortium consisting of Banque Misr and the National Bank of Egypt, whereby a long-term syndicated loan contract worth EGP 1.2 billion was signed with Al Nahda Industrial Company for the construction of a cement plant in Qena governorate. The plant will have a daily capacity of 5,500 tons. Banque Misr and the National Bank of Egypt had successfully marketed the facility and were joined by Banque du Caire, the Export Development Bank of Egypt, Societe Arabe Internationale de Banque, the United Bank, Egyptian Saudi Finance Bank, and Cairo-based Arab Investment Bank.

Banque Misr and the National Bank of Egypt are the initial mandated lead arrangers and underwriters. Banque Misr and the National Bank of Egypt covered 33.3 % and 16.7 % respectively, of the loan. Banque du Caire and the Export Development Bank of Egypt both covered 12.5% each, while Societe Arabe Internationale du Banque covered 10.8%, the United Bank and the Egyptian Saudi Finance Bank covered 5.8% each, and finally Cairo-based Arab Investment Bank covered 2.5% of the loan.

The cement plant, valued at EGP 1.9 billion, will require two years to be built.

It is worth mentioning that Al-Nahda is 30% owned by the National Cement Company -which controls around 9% of the Egyptian cement market- and 30% owned by The Arab Contractors.