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Raya in Talks With NBE for 183 Million-Pound Loan, Al Mal Says

Raya Holding Co. is in talks for a loan of 183 million Egyptian pounds ($30 million) from National Bank of Egypt, Al Mal reported, citing the bank’s head of corporate banking Sherif Riad.

The seven-year loan will be used to finance part of the information technology company’s 311 million-pound administrative building being built on the outskirts of Cairo, the newspaper said.

Raya’s Chief Investment Officer Karim Hassan couldn’t be reached for comment when contacted at his office today.

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