Follow COVID-19 Updates from here
ADSERO Assists Telecom Egypt Secure EUR 150 M in Funding from EIB


ADSERO - Ragy Soliman & Partners is proud to announce that we acted as the Egyptian Local Counsel to Telecom Egypt (TE) in securing a medium-term loan of EUR 150 million (USD 167 million) from the European Investment Bank.

The loan – from the lending arm of the European Union – will be used to expand TE’s 4G broadband network by deploying around 2,000 new mobile sites and installing additional capacity layers to its existing portfolio of cell towers.

Our team was led by Hossam Gramon, Partner and Head of Banking & Finance and Projects practice area, Karima Seyam, Managing Associate, Aya Badr, Associate, and Yosr Allam, Junior Associate.

We had the pleasure to work with our colleagues at King & Spalding LLP on this transaction.

For more information, you can check European Investment Bank’s coverage here.