VOL. XL

No. 45

10-November-1997

EGYPT

Apache Loan Syndicated

In what is described as the largest ever private sector financing arrangement in Egyptnot supported by the World Bank or other multilaterals, a 5-year, $250mn revolving creditfor the Egyptian subsidiaries of Houston-based Apache Corporation was successfullysyndicated at the end of October. The deal was lead-arranged by Chase ManhattanInternational and will be signed formally in Cairo on 17 November. Two leading Egyptianbanks,...