Banque Misr to complete $250-300mn loan in December – chairman

Banque Misr is expecting to complete procedures to obtain a $250-300 million loan of three years duration in December, using it to strengthen the dollar resources of Egypt’s second-largest state lender, its chairman told Reuters Monday.

Mohamed Eletreby said the loan will pay a margin of 3.2 percent.

Meanwhile, Eletreby told Amwal Al Ghad that his bank requested Bank ABC Bahrain to arrange the dollar-denominated syndicated loan.

Meanwhile, Emirates NBD, HSBC, Mashreq and Union National Bank will take part in the loan, two banking sources aware of the matter told Reuters.