ABC and Mizuho to arrange $100 million loan facility for Banque Du Caire
The Arab Banking Corporation (ABC) and Mizuho Corporate Bank have been mandated to arrange and syndicate on behalf of Banque Du Caire a three-year $100 million term loan facility.
ABC and Mizuho Corporate Bank will act as Joint Bookrunners. In addition, ABC will act as the Facility Agent.
Proceeds of the facility will be used for refinancing and for general funding purposes, stated a press release. The transaction will carry a margin of 70 basis points per annum plus front-end fees. Syndication of the facility will be launched shortly to regional and international relationship banks of Banque Du Caire.
Banque Du Caire was established in 1952 and is the third largest commercial bank in Egypt by asset size. The bank operates a retail network consisting of 224 branches and units, giving it a very strong position in the domestic retail market. — (menareport.com)
© 2004 Mena Report (www.menareport.com)