Abu Dhabi Islamic Bank (ADIB) Egypt is currently negotiating an EGP2bn syndicated loan facility with the Egyptian Electricity Transmission Company (EETC), according to sources familiar with the matter. One official from ADIB Egypt said that the bank had already received offers from five other banks to join the syndicate, adding that the funding would be disbursed next month. Other banks are expected to join too. The financing will be utilised to purchase new cables, expand the current network and repay some of the company’s debts. This is the third syndicated loan that ADIB Egypt arranges for the electricity sector this year, after an EGP2bn loan for the Egyptian Company for Electricity and EGP1.6bn for the Egyptian Electricity Holding Company (EEHC). (Al Borsa)   Abu Dhabi Islamic Bank - Egypt: EGP3.33 as of 26 June 2016, Rating: Buy, FV: EGP5.20 per share, MCap: USD75 million, ADIB EY / ADIB.CA