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Arab Finance: El Zahy Group, a local player in the construction sector, has signed a syndicated loan agreement worth EGP 4.2 billion with the National Bank of Egypt (NBE), Banque Misr, and QNB Egypt, according to an emailed press release.
The financing package is divided among the three lenders, with NBE and Banque Misr each contributing EGP 1.5 billion, while QNB Egypt provided EGP 1.2 billion.
The funds will support various projects within El Zahy Group's portfolio.
These include facility design, land reclamation, infrastructure work, leveling agricultural land, and constructing irrigation and drainage systems.
All three banks served as lead arrangers for the loan.
NBE took on additional roles as the financing marketer, financing agent, and document bank.
Banque Misr also acted as a financing marketer and served as the account bank.
