21 Apr, 2008

Arab Bank Group has recently signed a US$ 900 MM loan agreement along with eight global and regional banks for Orascom Construction Industries (OCI). Arab Bank played the most senior role in this deal as Global Coordinator and Mandated Lead Arranger (MLA).

The loan will be utilized to part finance the funding requirements resulting from the recent acquisition of the Egyptian Fertilizer Company (EFC) by OCI.

OCI, established in 1976 as a general contracting and trading company, is a leading contractor active in emerging markets, providing engineering, procurement and construction services in industrial, commercial and infrastructure projects for public and private sectors primarily in Europe, Middle East, North Africa and Central Asia. OCI was founded by the Sawiris family who collectively own 60% of the company and the remaining 40% are public shareholding.

Arab Bank participation in this deal comes as part of its focused strategy to play a major role in arranging and leading transactions for regional players in the various countries and sectors.