Five Egyptian Banks Ink EGP1.273bn Loan for South Valley Cement

Five Egyptian banks signed Sunday a long-term syndicated loan contract worth EGP 1.273 billion in favour of South Valley Cement Company (SVCC).

The Commercial International Bank – Egypt (CIB), Arab African International Bank (AAIB), Banque Misr, Ahli United Bank, and Qatar National Bank Ahly (QNB Al Ahli) signed the syndicated long-term loan to finance SVCC’s expansions.

The loan is an 8-year grace period, to go for financing SVCC’s expansions in grinding energy, storage, and energy alternatives, banking sources with knowledge of the matter told Amwal Al Ghad.

The table below demonstrates the five banks’ contribution to SVCC’s syndicated loan: