Telecom Egypt obtains a long-term loan of LE 18 billion ...Egypt

Telecom Egypt announced that it has obtained a long-term loan worth LE18 billion from a banking alliance of 13 banks, as part of its strategy to achieve balance in cash flows and enhance the company’s financial flexibility. The banking alliance is led by the Commercial International Bank (CIB) and Banque Misr, as the first lead arrangers and financing marketers, with the participation of the National Bank of Egypt, as a lead arranger and financing marketer. Telecom Egypt is using the loan, which extends for seven years, to refinance its current short-term obligations in Egyptian pounds, in a strategic move that is consistent with its efforts to improve its cash flows, enhance financial liqui

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