#Egypt signs $2bn conventional, Islamic facility to finance budget deficit
Egypt’s Ministry of Finance has signed the first conventional and Islamic financing facility, worth $2bn, to finance the state’s budget deficit. The facility was closed by Emirates NBD Capital Limited, and First Abu Dhabi Bank (FAB) as the transaction’s global coordinators, mandated lead arrangers, and book runners. The main authorised regulators and the offering managers include Mashreq Bank, ABC Islamic Bank, British Standard Chartered Bank, Islamic HSBC, the Arab Banking Corporation (ABC), and the Japanese Sumitomo Mitsui Banking Corporation.
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