Finance

National Bank of Egypt completes $127mln loan for an agricultural company

Monday, 28 September 2020 18:47
National Bank of Egypt completes $127mln loan for an agricultural company

(Ecofin Agency) - The National Bank of Egypt (NBE), one of the largest public banks in Egypt, has finalized the mobilization of EGP2 billion (about $127 million) for the benefit of Faragalla, an agricultural group. The resource will help finance the company's current expenses and help restructure its debt.

NBE arranged the operation with the participation of several local and international banks, especially from the Middle East. The local banks include Commercial International Bank, Arab Bank, Arab African International Bank, and the local subsidiary of the Moroccan group Attijariwafa Bank. The international financiers include Emirates NBD and Qatar National Bank Alahli.

NBE says that participation in this round of financing was justified by the strategic importance of Faragalla, which weights a lot in Egypt's agribusiness sector. Faragalla has three companies in its portfolio with nearly 15 production plants under control. The Egyptian Bank said it was attracted by the group’s client's ability to generate cash and the good quality of its management.

This is the second major investment banking deal reported in Egypt with the participation of NBE. Earlier this year, the banks acted as the arranger of an EGP 3.5 billion loan for Ezz Steel Group.

It should be recalled that despite all these operations, NBE has not yet managed to climb the top 10 investment banks in the Middle East and North Africa region, according to data from Refinitiv. The biggest investment banks in the region include large European, Asian, and especially Emirati groups.

Idriss Linge



 
Telecom


 
Public Management


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.