TE to raise USD500mn syndicated loan led by UAE banks
Telecom Egypt (TE) [ETEL.CA] is raising a USD500mn syndicated loan for capital and operating expenditure, Reuters quoted statements by the banks leading the transactions as saying. First Abu Dhabi Bank [FAB.AD] and Mashreqbank [MASB.DU] are mandated to arrange the five-year facility and have started syndicating the deal to other lenders.
Telecom Egypt: ETEL.CA14.00 as of 13 Aug. 2018, Rating: Buy, TP: ETEL.CA15.70/share, MCap: USD1,339mn, ETEL EY/ETEL.CA
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