Adsero with Telecom Egypt on a UDS 200 mln loan by Banque Misr

Adsero – Ragy Soliman & Partners acted as Egyptian local counsel to Telecom Egypt, the country’s full-service telecom operator, on a USD 200 million loan granted by Banque Misr UAE as lender, mandated lead arranger, and facility agent.

About the loan

Telecom Egypt will use the loan to refinance its existing short-term facilities. This loan comes at a timely manner as Telecom Egypt pursues a refinancing strategy to reduce its borrowing costs, assure adequate liquidity, and increase its financial flexibility. In 2023, Telecom Egypt strategically procured and settled its CapEX requirements upfront to hedge against expected FX fluctuations in 2024, and other unforeseeable risks.

Adsero’s team

Partner Hossam Gramon (pictured), senior associate Karima Seyam, associate Aya Badr and junior associates Nour Osama and Mostafa Khaled.