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Elsewedy Electric to get €42M loan from National Bank of Greece

Elsewedy Electric to get €42M loan from National Bank of Greece

ArabFinance: Elsewedy Electric (SWDY) announced Tuesday that it has approved receiving a loan at a value of €42 million from the National Bank of Greece, according to a bourse filing.

Convened on May 27, the firm’s board also agreed on signing a credit facility agreement with Banque Misr at a total value of $100 million.

Moreover, the board approved establishing a new firm in the United Arab Emirates or acquiring an existing firm incorporated with the free zone system, to be a hub for the commercial companies that are subsidiaries to Elsewedy companies outside the Arab Republic of Egypt.

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