Banque Du Caire Offers EGP 400 Mln Finance To Sigma Pharmaceuticals

Banque Du Caire wins its bid to provide a finance amounting to EGP 400 million to Sigma Pharmaceutical Group after competing with five banks.

The bank was competing with a consortium compromising of five banks over providing the average-term finance which will be used to finance the Company’s future expansions in Quesna and Sixth of October City, said Tamer Mostafa, deputy head of large corporate sector at Banque Du Caire.

The bank disbursed the value of the seven-year term loan at the end of last week. The bank considers selling part of the loan after three banks offered to contribute to the loan, Mostafa added.

Banque Du Caire focuses on financing large companies specialized in important sectors such as pharmaceutical, petroleum, electricity and mining sectors which boost the national production.

Mostafa noted that the bank currently studies financing large companies specialized in mining and fertilizers production sectors, but he refused to say the name of these companies or the value of finances because of the fierce competition the bank faces over providing such loans.