Egypt’s OCI completes $2.2bn of loans from banks, IFC

Orascom Construction Industries (OCI), a producer of construction materials and fertiliser — and one of the first private Egyptian borrowers to approach international banks for financing since the country’s recent revolution — has completed loans of $2.2bn. The company has arranged term loans of $1.9bn for its wholly owned fertiliser subsidiaries with relationship banks to refinance the group’s existing loans, many of which are set to mature in 2013. It has also received a $200m investment package from the IFC.

  • 07 Oct 2011

The deals have been arranged to enable the creation of standalone fertiliser and construction businesses under a holding company structure.

The deals comprise a $775m five year term loan for the Egyptian Fertilizer Co (EFC), a €550m five year term facility for OCI Nitrogen and a three year ...

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