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11-Apr-2016

Emirates NBD Egypt signs EGP2 billion loan to EEHC to finance two power plants

Emirates NBD Egypt signed an EGP2 billion facility contract with the Egyptian Electricity Holding Company (EEHC) to finance two power plants. The two power plants have each a capacity of 4,800 MW and are located in Borolos in Kafr El Sheikh and the New Administrative Capital. The bank’s corporate banking portfolio has exceeded EGP7 billion, up 70% Y-o-Y, owing partly to an increase in the financing of small, medium and large corporate projects. (Company disclosure)   Emirates NBD (DU): AED7.81 as of 10 April 2016, Rating: Buy, FV: AED10.00 per share, MCap: USD11,827 million, EMIRATES UH / ENBD.DU

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