Egypt, through its Ministry of Finance, has secured a US$2 billion syndicated loan with Emirates NBD Capital and Standard Chartered acting as Global Coordinators, Lead Arrangers, and Bookrunners.
The facility aims to diversify Egypt’s funding sources and will primarily support budgetary needs, economic growth, and debt sustainability. It follows the successful settlement of a USD 3 billion facility in November 2024.
The transaction was well-received, achieving 2.5 times oversubscription and resulting in an upsized facility of US$2 billion from the initial US$1.5 billion.
Ahmed Kouchouk, Egypt’s Minister of Finance, stated:
“This US$2 billion syndicated facility underscores Egypt’s resilience and the confidence in our economic reforms. Egypt continues to diversify its funding sources within a disciplined fiscal plan to maintain economic stability and debt sustainability. Emirates NBD and Standard Chartered have demonstrated exceptional expertise in successfully closing this transaction.”
Hitesh Asarpota, CEO of Emirates NBD Capital, remarked:
“We are honoured to have facilitated syndicated financing for Egypt. The success of this issuance highlights Egypt’s strong position among emerging markets and the growing confidence of cross-border investors in its economic outlook.”
Featured image credit: edited from freepik
