EGPC teaser asks for $150m final hold

After EGPC awarded its hotly contested mandate to JPMorgan and National Bank of Egypt last week, it has started to get other bank lenders involved in its $2bn pre-export financing. It has sent a teaser out to banks as it prepares to launch the sub-underwriting phase of its $2bn pre-export financing, and it is thought that it will ask for commitments of $225m with a final hold of $150m. To find out more about this deal, and the $2.35bn project loan for fellow Egyptian borrower, the Egyptian Refining Company, read EuroWeek this Friday.