Disclosure Regarding Commitment of US $ 2.6 billion in Debt Finance for Egyptian Refining Company

abarrelfullabarrelfull wrote on 15 Jun 2012 13:18
Tags: africa citadel egypt refinery

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Company announces Castle Financial Advisors (listed on the Egyptian Stock Exchange under the code CCAP.CA ) signed a renewal of the Convention on the loan package worth U.S. $ 2.6 billion, and on a project for the Egyptian Refining Company and aims to finance the design, construction and operation of the business world to refine petroleum products in the complex Mostorod Petroleum investment cost of $ 3.7 billion.

The Cairo hosted a lengthy meeting on June 7, 2012 in the presence of Dr Kamal Ganzouri, the Prime Minister, and all lenders, including export credit agencies and financial institutions development, during which informed its sovereignty on the latest developments regarding the project and the loan package, which is an important step towards completing the financial closure for the project.

The firm would like to emphasize that this disclosure is designed to inform the market on the developments of the project and does not represent a declaration of financial closure of the project, which we expect to be soon and will be announced in due course.

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