Cairo - Mubasher: The ordinary general meeting (OGM) of Beltone Holding approved a $300 million shareholder loan, or its equivalent in foreign currencies, to support its expansion plans.
The facility shall have an interest rate of the secured overnight financing rate (SOFR) plus 4%, with a maximum repayment term of two years from the date of the contract, according to a bourse filing.
The EGX-listed company will use the proceeds to increase the capital of its subsidiaries or provide them with financing in Egypt or abroad.
It is worth noting that the loan and its term may be renewed subject to the approval of both parties.
During the first nine months (9M) of 2025, Beltone achieved higher consolidated net profits after tax at EGP 1.57 billion, compared to EGP 1.20 billion in 9M-24.
