Orascom Hotels signs debut $160m deal

Orascom Hotels and Development, a subsidiary of the eponymous Egyptian conglomerate, signed its first syndicated loan on Monday, an E£850m ($158m) seven year facility.

  • 11 Jan 2010

The deal pays 150bp above Egypt’s lending corridor rate. Banque Misr, which committed E£125m, and National Bank of Egypt, which lent E£100m, arranged the loan.

Ahli United Bank, Banque du Caire and Suez Canal Bank each committed E£100m. Blom Bank Egypt lent E£85m, while Bank Audi and National Bank ...

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