National Bank of Egypt signs deals with 14 regional, int’l institutions to raise $1 bln

The National Bank of Egypt (NBE), the country’s largest public lender, announced on Tuesday that it had signed agreements with 14 regional and international financial institutions to raise $1 billion loan.
The bank has not given any further details in its statement.
However, earlier in the day, Bloomberg cited people familiar with the matter as saying that it is a three-year facility and would be partly used to refinance existing debt. They added that the bank is seeking to narrow the margin to 230 points from 270 basis points.