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| OCI to Receive US$ 287 Million Loan Facility Cairo-based Orascom Construction Industries has signed an underwriting agreement for a new local loan facility of US$ 287 million. The facility is divided into three tranches; a US dollar tranche of US$ 95.5 million with a variable interest rate, an Egyptian pound tranche equivalent to US$ 95.5 million with a fixed rate and a second Egyptian pound tranche also equivalent to US$ 95.5 million with a variable rate. The facility has a tenor of seven years including a two-year grace period on principal repayments. Several local banks including Arab African International Bank (AAIB), Bank of Alexandria, Banque Misr, Barclays Bank, Citibank Egypt, Commercial International Bank and National Bank of Egypt have been appointed as joint Mandated Lead Arrangers. write your comments about the article :: © 2006 Construction News :: home page |