Banque De Caire To Pump US$ 140 Mln in 3 USD Syndicated Loans

Banque De Caire is planning to inject US$ 140 million in form of 3 dollar-dominated syndicated loans in the banking market. The loans are arranged for the Egyptian Chemical Industries- KIMA and Delta Co for Fertilizations and Chemical Industries as well as another Islamic loan for Maridive and Oil Services (MOIL.CA).

Informed source said, in exclusive statements to Amwal Al Ghad, Banque De Caire will be injecting US$ 75 million for KIMA out of a loan totaled at US$ 423 million, whereas the loan is designated for financing the renovation of KIMA’s Ammonium Nitrate and Fertilizer factory, in addition to establishing a new factory in Aswan with total costs of US$ 787 million.

The source also pointed out that the bank has agreed to inject US$ 40 million in Delta Co. for Fertilizations and Chemical Industries’ loan, allocated to fund the renovation of its affiliated factories in addition to constructing a new factory.
Furthermore, Delta Co. will employ part of the funding in buying a new cement production line within the upcoming period, with the contribution of the National Bank of Egypt (NBE), Banque Misr, Commercial International Bank (CIB) and Arab African International Bank (AAIB).

Last week, Banque De Caire injected US$ 25 million to Maridive’s loan which is allocated to finance new expansions, restructure,  and new investments.