National Bank of Egypt signs USD 1 Billion Senior Unsecured Syndicated Term Loan Facility

Cairo 19 June 2024:

National Bank of Egypt S.A.E. (“NBE” or the “Borrower”) is pleased to announce the successful signing of a USD 1 Billion Senior Unsecured Syndicated Term Loan Facility (“Facility”) on 23 May 2024.

Together Emirates NBD Capital Limited, Mashreqbank PSC and Firstrand Bank Limited (acting through its Rand Merchant Bank Division) acted as the Global Coordinators (“Coordinators”). Emirates NBD Capital Limited acted as the “Syndication Agent”, Mashreqbank PSC acted as “Documentation Agent”. First Abu Dhabi Bank PJSC is the appointed “Facility Agent”.

Abu Dhabi Commercial Bank PJSC, Abu Dhabi Commercial Bank – Egypt, Africa Finance Corporation, Al Ahli Bank Of Kuwait K.S.C.P. (DIFC Branch), Arab Banking Corporation (B.S.C.), Emirates NBD Capital Limited, First Abu Dhabi Bank PJSC, Firstrand Bank Limited (acting through its Rand Merchant Bank Division), HSBC Bank Middle East Limited, Mashreqbank PSC, National Bank of Kuwait S.A.K.P, Bahrain Branch, Standard Chartered Bank and The Mauritius Commercial Bank Limited acted as the Initial Mandated Lead Arrangers and Bookrunners (the “IMLABs”) and Commerzbank Aktiengesellschaft, Doha Bank Q.P.S.C., Eastern and Southern African Trade and Development Bank, Sumitomo Mitsui Banking Corporation – DIFC Branch, Dubai, The National Bank of Ras Al-Khaimah (P.S.C), and The Standard Bank of South Africa Limited acted as the Mandated Lead Arrangers and Bookrunners (the “MLABs”)for the Facility.

Facility will be used for general corporate funding purposes and trade finance requirements of NBE.

Despite the market volatility amidst the current geo-political conditions, the transaction received an overwhelming response from the market. Following strong global demand from 19 institutions from across the globe, including from Western Europe, Asia, Africa and the Middle East, the facility was 1.7 times oversubscribed from the original launch amount of USD 750 Million, at senior mandate level. NBE choose to opt for green shoe option and closed the transaction at USD 1 Billion post scale back.

The success of the deal emphasizes the strength of NBE’s banking relationships and credit strength, as well as demonstrates the market’s positive sentiment and trust in the Egyptian economy.

NBE indicated that the successful closure of the transaction with oversubscription of 1.7 times conveys a strong indication of the international perception toward NBE’s stable financial position and a belief in its role to support the economy as a whole.

The wide range of international banks joining the transaction comes as a proof of NBE’s extensive relations and follows its strategy of diversified funding sources

We would like to extend our sincere appreciation to our Coordinators for a well-arranged milestone transaction and our financing partners for their long-standing commitment to NBE.

About NBE

National Bank of Egypt is the oldest commercial bank in Egypt. It was established on 25 June 1898 and operates in conformity with Law No. 88 for 2003 in Arab Republic of Egypt. Throughout its history NBE’s functions and roles have continuously developed to support the economic and political changes in Egypt. During the 1950’s, NBE assumed the central bank’s duties and after its nationalization in 1960s, it was converted to a commercial bank. At present, NBE is Egypt’s flagship bank and is 100% owned by the Arab Republic of Egypt.

NBE has an extensive network of more than 640 branches, offices and banking units nationwide (serving nearly 19 million customers as at June 2023). Additionally, the Bank maintains an effective international presence in most continents of the world through National Bank of Egypt (UK) Limited, National Bank of Egypt (Khartoum) – Sudan, NBE Juba PLC (South Sudan), New York and Shanghai branches (in USA and China), and representative offices in Johannesburg – South Africa, Dubai – UAE and Addis Ababa – Ethiopia, plus NBE (DIFC) Limited for financial advice. This is in addition to a vast correspondent bank network around the globe (Europe – USA – Australia – Canada – the Far East – Africa – the Arabian Gulf).

For more information, please visit: https://www.nbe.com.eg/NBE/E/#/EN/Home

Syndicate Banks

GLOBAL COORDINATORS

1. Emirates NBD Capital Limited

2. Mashreqbank PSC

3. Firstrand Bank Limited (acting through its Rand Merchant Bank Division)

INITIAL MANDATED LEAD ARRANGERS AND BOOKRUNNERS

1. Abu Dhabi Commercial Bank PJSC

2. Abu Dhabi Commercial Bank – Egypt

3. Africa Finance Corporation (AFC)

4. Al Ahli Bank Of Kuwait K.S.C.P. (DIFC Branch)

5. Arab Banking Corporation (B.S.C.)

6. Emirates NBD Capital Limited

7. First Abu Dhabi Bank PJSC

8. Firstrand Bank Limited (acting through its Rand Merchant Bank Division)

9. HSBC Bank Middle East Limited

10. Mashreqbank psc

11. National Bank of Kuwait S.A.K.P, Bahrain Branch

12. Standard Chartered Bank

13. The Mauritius Commercial Bank Limited

MANDATED LEAD ARRANGERS AND BOOKRUNNERS

14. Commerzbank Aktiengesellschaft

15. Doha Bank Q.P.S.C.

16. Eastern and Southern African Trade and Development Bank

17. Sumitomo Mitsui Banking Corporation – DIFC Branch, Dubai

18. The National Bank of Ras Al-Khaimah (P.S.C)

19. The Standard Bank of South Africa Limited