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CLC to arrange EGP 450mn loan for a manufacturer

Sunday 03 February 2019 03:04 PM

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banque-du-caire


By Ahmed Desouqy and Sayed Badr:
Cairo Leasing Corporation (CLC), owned by Banque du Caire, is currently arranging and managing a syndicated loan of EGP 450mn in favor of an industrial firm.
CLC Managing Director Ahmed Sherif told the economic daily Al-Mal that his company is going to invite 3 leasing firms as well as banks to contribute to the loan, which is the third of its kind arranged by the company since the start of operation in the local market.
He said that CLC contributed to syndicated loans with 3 leasing companies and lenders in 2018, adding that Cairo Leasing is close to participate in a loan arranged by another firm, noting that CLC’s contribution to this loan is EGP 100mn.
Meanwhile, the senior executive said that his firm managed to conclude contracts worth EGP 1bn since starting operation in March 2018 until now, adding that they seek to increase the value of contracts to EGP 2bn by the end of 2019.
He pointed out that CLC’s capital has been increased to EGP 100mn, adding that his company aims to jump start strongly in the Egyptian market.




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