Raya Is in Talks With NBE on $30 Million Loan, Al Mal Reports

Raya Holding Co., an Egyptian information technology company, is in talks with National Bank of Egypt about a loan of 183 million Egyptian pounds ($30 million), Al Mal reported, citing Sherif Riad, NBE’s head of corporate banking.

The seven-year loan would help to finance Raya’s 311 million-pound administrative building, which is under construction on the outskirts of Cairo, the newspaper said.

Raya’s chief investment officer, Karim Hassan, wasn’t available for comment.

To contact the reporter on this story: Ahmed A. Namatalla in Cairo at anamatalla@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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