The facility was launched at US$32.5mn and following a 100% oversubscription closed at US$65mn. The borrower elected to take the oversubscription. A total of 25 banks participated in the facility.
The funds are for financing trade-related transactions of the borrower’s major customers.
There will be a bullet repayment.
The margin is Libor + 2.20% per year.
Co-arrangers are National Bank of Egypt (UK) and HSH Nordbank.
Managers are Alpha Bank London, Bank Austria Creditanstalt, Demir-Halk Bank (Nederlands), Dresdner Bank, FBN Bank (UK), Finans Bank (Holland), Natexis Banques Populaires.