Banque Misr led a banking consortium as the main underwriter, marketer, financing agent, and guarantee agent, to arrange a medium-term syndicated loan of EGP 2.9bn to finance the inventory needed to operate the Beshay Steel subsidiary, Egyptian Sponge Iron & Steel (ESISCO) Company’s production lines.
The consortium included Banque du Caire and National Bank of Egypt as the main salary and underwriters, while HSBC, United Bank, and The Egyptian Bank for Export Development as the main arrangers.
Akef Al-Maghrabi, vice-chairperson of Banque Misr affirmed the bank’s keenness to provide the necessary funds for industrial companies and major national projects in a manner that enhances their capabilities to achieve an increase in production.
