25 Sep 2019 08:14
Press Release
Domty signed a medium-term loan contract with The Commercial International Bank (CIB-Egypt), whereby the bank allows Domty to obtain a loan of up to 100 million Egyptian pounds with the average interest rate announced by the Central Bank of Egypt.
Such financing shall be available for withdrawal within twelve months - from the date of the first withdrawal - or the withdrawal of the total loan, whichever comes first.
The loan shall be repaid in twenty quarterly installments starting after a grace period of six months from the date the withdrawal period ends, with the last installment due after 75 months from the date of the first withdrawal.
The loan proceeds will be used to finance the company's future expansion & capital expenditures for the company's new products.
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About Arabian Food Industries Company Domty S.A.E.
Domty, founded in 1988and headquartered in Egypt, is a leader in the growing Egyptian cheese and juice market. The Company manufactures, markets and distributes a range of branded white and processed cheeses and juice products, with a family of nearly 200 SKUs under a brand portfolio including Domty, Damo, Gebnety and Bravo. Domty is a household name and the number-one cheese producer in the nation by market share. The Company sells to tens of thousands of retail and business customers as well as to more than 46 export destinations. Learn more about Domty by visiting Domty.org
Contact
Ahmed Mohy EldinInvestor Relations and Corporate Affairs DirectorT: +202- 010 - 0555 2235| ahmed.mohy@domty.org