No. 16



Suez Cement Company Secures E1.2Bn Loan From National Bank Of Egypt

Suez Cement Company (SCC), one of Egypts main blue-chip stocks, has secured a E1.2bn ($349mn) loan from the National Bank of Egypt (NBE) for its recent acquisition of Torah Cement Company, according to a report released on 9 April by Cairos HC Security Brokerage. The bridging loan is payable at a 12.5% per annum interest rate, and according to the report SCC will negotiate with NBE to extend...