Three international banks to provide USD750mn syndicated loan to EGPC
A consortium that includes FAB, Mashreqbank and HSBC-London is arranging a USD750mn, five-year loan for the Egyptian General Petroleum Corporation (EGPC), which is set to be signed in a week and disbursed before 28 December. The loan will be used to repay some of EGPC’s debts to international oil companies. Mashreqbank will be the lead arranger, and each of the three banks will contribute USD250mn to the loan.
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