North Africa

Egypt’s Banque Misr is finalising its second syndicated loan in over a decade, a murabaha deal for $200m.

Egypt’s Banque du Caire has cancelled plans to raise a loan for as much as $250m, but may consider signing a loan in 2016 instead.

The Egyptian loan market is showing signs of recovery with deals from Banque Misr and National Bank of Egypt in recent months. Bankers say there is more to come in 2016.

Egypt’s Banque Misr signed its $250m three year loan on Sunday with five lead banks.

Eqypt’s Banque Misr is finalising a $250m three year loan and will sign on Sunday, according to a banker close to the deal.

Egypt’s Banque Misr has completed the two month long senior syndication process for its $250m three year loan and launched general syndication on Sunday.

Egypt’s Banque Misr is planning a loan for around $200m and will mandate lead banks next week, according to an official in talks with the bank.

Egypt is planning to launch another deal from its $10bn conventional bond programme before year end, which should be followed by an international sukuk, delegates at the Euromoney Egypt Conference in Cairo heard this week.

Once the wild west of finance, emerging markets had dodginess and defaults aplenty. Now ethical investors want socially responsible investments. But if SRI criteria are too strict there will be nothing to buy, writes Steven Gilmore.

Egypt’s Banque du Caire is in the market for a $250m one year facility, looking to make the most of abundant liquidity across Asia by sending out invitations to banks in the region. The deal comes as financial institutions from Brazil and Turkey are also tapping Asian lenders.