Last checked at 19 Jan 2015 07:00
ezzsteel successfully raises EGP 1.7 billion loan to restructure existing facilities
Cairo, 18 January 2015 - ezzsteel (EGX: ESRS; London Stock Exchange: AEZD), the largest independent producer of steel in the MENA region, announces that it has signed an EGP 1.7 billion, long term loan agreement with National Bank of Egypt, as lead arranger & facility agent, and Arab African International Bank, as lead arranger & security agent. The funds raised will be used to restructure existing facilities. The loan will be repaid quarterly over a seven year period, starting in 2015.
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For further information:
EzzsteelKamel Galal | Tel+ 20 2 3762 2144 | Mobile+ 20 10 539 5499 |
Capital MSLNick Bastin | + 44 20 3219 8814 | + 44 7931 500 066 |
Richard Gotla | + 44 20 3219 8819 | +44 7904 122 207 |
About ezzsteel
ezzsteel (formerly: Al Ezz Steel Rebars) is the largest independent steel producer in the Middle East and North Africa, and the Egyptian market leader, with a total actual capacity of 5.8million tonnes of finished steel.
In 2013, the Company produced 3.7 million tonnes of long products (typically used in construction) and 990 thousand tonnes of flat products (typically used in consumer / industrial goods). ezzsteel deploys the latest in modern steel-making technology and is committed to further increasing vertical integration across its plants, boosting operational flexibility.