Release on Subordinated debt from CDC

RNS Number : 7429R

Commercial Intnl Bank (Egypt) SAE

01 July 2020

 

​ RELEASE

CAIRO - July 1^st 2020

CIB would like to announce that it has signed an agreement with CDC to provide the Bank with a subordinated loan of USD 100 million. The subordinated loan qualifies as Tier II capital and has a maturity of 10 years.

This loan comes in line with CIB's Management plans to further solidify the Bank's capital base in preparation for the expected economic recovery.

CDC's subordinated loan adds to two existing tier II facilities of USD 100 million each the Bank had secured in November 2017 from EBRD and IFC.

http://www.rns-pdf.londonstockexchange.com/rns/7429R_1-2020-7-1.pdf  

END OF RELEASE

Yasmine Hemeda

Head of Investor Relations

 

END

 

 

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