Banque Du Caire Refuses To Sell Part of Sigma’s Loan

Banque Du Caire will solely offer EGP 400 million loan to Sigma Pharmaceutical Group without allowing other banks to contribute to the loan, sources said. The bank was competing with five other banks over providing the average-term finance.

Three banks asked Banque Du Caire to contribute to the loan, but the lender said it will provide the total value of the loan, as the Sigma Group has strong solvency position which will enable it repay debt installments regularly.

The bank had already disbursed the value of the seven-year term loan which will be used to finance the Company’s future expansions in Quesna and Sixth of October City. The loan has no grace period and will be repaid on quarterly installments.

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.