Egypt’s SAIBBank lead arranger for EGP 750 mln Kharafi National loan

Egypt’s Societe Arab Internationale de Banque (SAIBBank) is leading Kharafi National’s medium-term financing worth 750 million Egyptian pounds ($45.1 million) with three joint arrangers.

Export Development Bank of Egypt (EDBE), the Industrial Development Bank of Egypt (IDB), and Al Baraka Bank Egypt are co-arrangers of the financing, whereby SAIBBank acts as a lead arranger and bookrunner.

SAIBBank will contribute 200 million pounds to the loan, while EDBE and IDB will commit 300 million pounds and 150 million pounds, respectively. Al Baraka Bank’s share in the loan amounts to 100 million pounds.

The loan will finance the construction projects mandated to Kharafi National, including a $25.8 million electricity transmission station in east Sohag as well as works in the Cairo Airport. In addition, the loan will also finance three sewage network works in Sharkia, Beheira, and Mostakbal cities worth 348.6 million pounds, 137.2 million pounds, and 800 million pounds, respectively.

Kharafi National is an operational investor undertaking investment, design, engineering, procurement, construction, commissioning, and facilities management services. It is also a leading multi-discipline general contractor and facilities management services provider to the oil and gas, petrochemical, power, water, wastewater commercial and industrial sectors in the Middle East and North Africa.