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Egypt Fertilizer To Borrow $1.25 Billion
Egyptian Fertilisers Co. EGFR.CA will borrow $1.25 billion to help its new owners, including Abraaj Capital of the United Arab Emirates, finance their $1.4 billion acquisition, Abraaj said on Sunday. The company will sell five-year Islamic bonds to raise $400 million and borrow another $850 million from banks, Tom Speechley, executive director or Abraaj Capital told reporters. Abraaj owns a majority stake in the company. A portion of the bonds would be convertible into shares of Egyptian Fertilisers, Speechley said.
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