Cairo – Mubasher: Banque Misr has appointed an international bank to arrange a $500 million medium-term syndicated loan, chairman said.
The state-run bank is seeking to secure the loan in the third quarter of this year, Mohamed Eletreby added in an interview with Bloomberg.
He has not named the international bank, pointing out that the loan will be used to fund future expansion.
In December 2017, Banque Misr had said it was planning to obtain a new loan after getting a $500 million credit facility from European Investment Bank (EIB).
