We advised Telecom Egypt (TE) in the successful signing of a long-term EGP 18 billion syndicated loan facility aimed at financing the company’s operations through a syndication of 13 banks, led by CIB Egypt and Banque Misr as Initial Mandated Lead Arrangers and Bookrunners, along with the National Bank of Egypt (NBE) as Mandated Lead Arranger and Bookrunner.

The syndication of banks is comprised of CIB, Banque Misr, NBE, First Abu Dhabi Bank Misr (FABMISR), QNB Egypt, Ahli United Bank - Kuwait, Arab African International Bank, Banque du Caire, Bank NXT, Abu Dhabi Commercial Bank, Credit Agricole Egypt, Bank ABC in Egypt, and MIDBANK.

TE will use this new seven-year syndicated facility to refinance its existing short-term EGP facilities. The refinancing comes at a strategic juncture, aligning with TE’s ongoing efforts to improve its cash flow, ensure adequate liquidity, and enhance financial flexibility as the company executes its long-term growth plans.

Our team was led by Hossam Gramon, Partner and Head of Banking & Project Finance, and Karima Seyam, Senior Associate, assisted by Aya Badr, Associate, and Junior Associates Mostafa Serry, Nour El Kholy, and Nour Osama.

Congratulations to the TE team Mohamed Nasr, Wael Hanafy, Ashraf Fawzi, Walid Fahmi, Dr Marwa Abdelfatah, Eman Mesak, Eman Abdelsatar and Shaymaa El Maghraby on this groundbreaking deal.

Pleased to have worked alongside our colleagues Ragia Omran, Ibrahim Waël Abdelwadoud, and Iten Osama from Zaki Hashem, Attorneys at Law.

For more information, check out جريدة المال new’s coverage here.