Perspective
08 March 2021
Assiut expansion: Egypt’s bank-to-bank benchmark
In:
Oil & gas
Region:
Middle East & Africa
Egypt’s $2.8 billion Assiut oil refinery expansion project is due to close an ECA-backed loan this year after pandemic-related delays to the deal. The project sponsor opted for a rare local bank-to-bank tranche from a pool of first class Egyptian banks, which lenders are still trying to wrap their heads around, and could add to the already lengthy deal gestation.
