ICEC

Egypt’s Abu Qir Fertilizers hires NBE-led consortium for €133.6 mln loan

Egypt’s state-run Abu Qir Fertilizers and Chemicals Industries Company has mandated a banking consortium led by National Bank of Egypt to arrange a €133.6 million ($155 million) syndicated loan.

The consortium also includes Banque Misr and Qatar National Bank Alahli (QNB Alahli), the major nitrogen fertilizers producer said in a bourse filling on Thursday.

The loan includes two tranches, the first is a euro-dominated worth of €105 million, while the second is in local currency worth of 600 million Egyptian pounds, the firm added. It is The loan is designed to finance project led by ThyssenKrupp Industrial Solutions to remove bottlenecks at the company’s acid and nitrate plants.

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