Source: Telecom Egypt Disclosure/ ETEL website IR Page
***The following are ETEL disclosure and press release***
Telecom Egypt is pleased to announce the successful signing of an EGP 18bn syndicated loan facility, a crucial step in rebalancing the company’s cash flow and enhancing its financial flexibility.
The syndicate consists of 13 banks, led by Commercial International Bank – Egypt (CIB) and Banque Misr as Initial Mandated Lead Arrangers and Bookrunners, along with the National Bank of Egypt as Mandated Lead Arranger and Bookrunner.
Telecom Egypt 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 Telecom Egypt’s ongoing efforts to improve its cash flow, ensure adequate liquidity, and enhance financial flexibility as the company executes its long-term growth plans.
This facility also underscores Telecom Egypt’s commitment to prudent financial management and reinforces its ability to navigate challenging market conditions while reducing associated risks and ensuring sustainable growth.
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