Arab Finance: Edita Food Industries has signed a $45 million long-term financing agreement with the International Finance Corporation (IFC) to fund its working capital and expenditure in Egypt and Morocco, according to a company disclosure on October 1st.
The loan has a tenor of eight years, and it will be also used in settling about $10 million of the previously granted IFC loan.
Founded in 1996, Edita is an Egypt-based leader in the packaged snack food market that operates within the manufacturing, marketing, and distribution of a range of branded baked snack products, including packaged cakes, croissants, rusks, and wafers, as well as selected confectionery and candy products.