Egyptian General Petroleum Corporation (EGPC), a frequent borrower in the loan market, launched syndication for a $400m five year term loan on Tuesday. The loan, which will have a government guarantee, is expected to attract healthy demand.
First Abu Dhabi Bank is leading the transaction, acting as mandated lead arranger, bookrunner and facility agent. Syndication was launched today, according to bankers, and is expected to close in coming weeks.
EGPC is one of the more frequent Egyptian borrowers in the syndicated loan market. In late 2018,