QNB Alahli and The Egyptian Gulf Bank (EGB) will contribute EGP4.2bn to the total EGP20bn syndicated loan to the Egyptian Electricity Holding Company (EEHC). EGB will provide EGP2.5bn, while QNB Alahli will grant EEHC EGP1.7bn financing. EEHC selected National Bank of Egypt (NBE) and Banque Misr as lead arrangers for the financing in January 2017, with Banque Misr contributing EGP3.6bn. NBE is in talks with other banks to finance a EGP1-1.5bn tranche of the loan. NBE and Banque Misr require the contribution of other banks to avoid reaching single obligor limit of 15% of equity for each customer (20% for each corporate and its affiliated companies). NBE and Banque Misr were also mandated to arrange an additional EGP37bn syndicated loan earlier this year to finance EEHC power distribution and transmission projects. Other banks have reportedly been contacted to contribute to this upcoming 15-year syndicated financing. 
 
Egyptian Gulf Bank: USD0.95 as of 13 Mar. 2017, Rating: Neutral, TP: USD1.22/share, MCap: USD274mn, EGBE EY/EGBE.CA
Qatar National Bank AlAhli: EGP40.10 as of 13 Mar. 2017, MCap: USD1,681mn, QNBA EY/QNBA.CA