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Cairo Airports Company in talks for EGP 2.5B loan

Cairo Airports Company in talks for EGP 2.5B loan

ArabFinance: State-owned Cairo Airports Company started negotiations with local banks to obtain up to EGP 2.5 billion worth of credit line for the renovation of St. Catherine and Sphinx international airports, Al Mal News cited sources familiar with the matter on October 25th.

The talks are forecast to be completed during November, according to the unnamed sources.

The maturity period of the loan may exceed 10 years, including a two-year grace period to repay the loan and disburse the interest value, the sources added.

Cairo Airport Company, meanwhile, raised the amount of its potential credit facility to EGP 2.2 billion, in order to upgrade Terminal 1 of Cairo International Airport.

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