Egypt's Banque Misr closes $250 mln 3-yr loan

Banque Misr has raised a $250 million loan of three years duration that Egypt's second-largest state lender will use for general funding purposes, the coordinator of the deal said on Sunday.

Last month, Banque Misr's chairman told Reuters that the bank was close to completing a three-year loan which would pay a margin of 3.2 percent.

Coordinator Bank ABC, as well as Emirates NBD, HSBC, Mashreq and Union National Bank, arranged the transaction, according to the statement from the Bahrain-based bank.