Orascom Construction Industries (OCI) is in negotiations with local banks for a EGP2.5bn loan, to finance OCI’s competitive tender for the construction of two power plants, of which is a 320-MW combined cycle plant in Attaqa. The leading banks reportedly involved are Commercial International Bank (CIB), Banque Misr, National Bank of Egypt (NBE), Arab African International Bank (AAIB), QNB AlAhli and HSBC. Banks could bid individually or as a syndicate. The loan maturity could reach 15 years. (Al Mal) CIB: EGP52.58 as of 16 October 2016, Rating: Neutral, FV: EGP46.38 per share, MCap: USD6,832mn, COMI EY / COMI.CA
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