Egypt to Repay $1.5b Debt

Egypt to Repay $1.5b DebtEgypt to Repay $1.5b Debt

HSBC, National Bank of Egypt and National Bank of Abu Dhabi will arrange a $1.5 billion syndicated loan to Egypt's state oil company in order for the country to pay back foreign energy companies, TradeArabia reported. Egypt said earlier this month that it plans to repay all of its $4.9 billion debt to foreign oil and gas companies within six months.