Arab Finance : 6 banks are finalizing contracts of the syndicated loan arranged for Al-Futtaim Properties amounts to LE 1.950 billion which include amending articles of two bridge loans amount to LE 770 million the company obtained from HSBC and Arab Bank , Almal newspaper reported. Informed sources stated that, the consortium will start getting CEOs final approvals during January in order to sign the final contracts in February. It is worth noting that, the banks arranging the loan are HSBC , CIB, Banque Misr , Arab African International Bank , Bank Du Caire and Arab Bank . The loan will be utilized in financing operational expenses of Cairo Festival City commercial mall with total investment cost of LE 3.5 billion. Source: Almal newspaper & Arab Finance editor
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