|
contents | news | |||||||||
| OCI Launches 5-year Revolver Debut Facility Orascom Construction Industries (OCI) announced that it has appointed Citigroup, BNP Paribas Le Caire, Calyon Bank Egypt, HSBC Bank Middle East Limited, National Société Générale Bank (NSGB) and National Bank of Egypt (UK) Ltd as Mandated Lead Arrangers for its US$ 300 million 5-year revolver debut facility in the Euroloan market. The new subsidiary, OCI Finance BVI, will act as the obligor for the proposed facility. The facility will benefit from an unconditional guarantee from OCI. The revolver carries a margin of 80 bps per annum. OCI is a leading cement producer and construction contractor active in emerging markets. As a cement producer, we own and operate cement plants in Egypt and Algeria which have a combined annual production capacity of 13.5 million tons. Its new investments in Pakistan, northern Iraq, Nigeria, Algeria, the United Arab Emirates and Spain will increase annual cement production capacity to around 28 million tons by 2007. write your comments about the article :: © 2005 Construction News :: home page |