Juhayna Food Industries inks $9.47mln credit facility with HSBC

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Signed in November 2023, the credit facilities include a package of benefits by the bank linked to achieving certain sustainability goals

Staff Writer, Mubasher

June 9, 2024

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Juhayna Food Industries has signed a credit facility worth EGP 450 million with HSBC, renewing a working capital financing agreement.

Signed in November 2023, the credit facilities include a package of benefits by the bank linked to achieving certain sustainability goals, including reducing the interest rate on the loan, according to a bourse filing.

These goals include cutting the company’s direct and indirect emissions by 18.70% by 2025, compared to levels recorded in 2021.

Additionally, the goals encompass increasing health and safety training hours by 20% compared to 2022.

In the first quarter (Q1) of 2024, the consolidated net profit after tax of Juhayna Food Industries increased to EGP 478.74 million from EGP 339.41 million.

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