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Sonatrach Signs $50Mn Loan Agreement With EDC

Sonatrach and Export Development Canada (EDC) signed a loan agreement for $50mn on 6 October to finance the purchase of goods and services from Canada. The term of the loans is between five and seven years and is repayable in between 10 and 14 installments depending on the particular contract, with rates of interest at 50 and 60 bps over Libor. This line of credit will allow our subsidiaries to finance their...