Egypt: Edita unveils $45mln loan from IFC

Edita Food Industries inked a finance agreement with the International Finance Corporation (IFC) to obtain a long-term loan at a total amount of $45 million.

The facility deal holds a tenor of eight years, according to a bourse filing.

Edita will use the financing to boost its working capital as well as capital expenditure in Egypt and Morocco.

This aligns with the EGX-listed firm’s international expansion plans and the settlement of up to $10 million of the previously granted IFC loan.

Last month, Edita secured two loans for seven years at a total value of EGP 390 million to finance new investments.