EGPC invites banks to join $2bn pre-export deal

Egyptian General Petroleum Corp (EGPC) has launched the senior syndication of a $2bn pre-export financing, sending out formal invitations to bank lenders on Wednesday evening after a teaser was released last week.

  • 14 May 2010

JPMorgan and National Bank of Egypt are mandated lead arrangers on the underwritten five year facility, which will amortise and have an average life of about three years.

The deal, which is backed by export contracts for naphtha and crude oil, carries an out-of-the-box margin of 275bp, and ...

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