The Clap:
Telecom Egypt (TE) is eying USD 500 million in supplier financing from a Chinese company.
What:
According to Alborsa News’s sources, The loan would be repaid in Chinese Yuan, since a portion of TE’s revenues are in the currency.
Confirmed?
Telecom Egypt emphasized that the deal is a debt restructure rather than a cash payment.
Claps Class – Debt Restructure:
Happens when a company re-negotiates its obligations to pay them over a different period or through a different payment method.
So What:
Telecom Egypt’s Stock has seen volatility today, trading between EGP 35.85 and EGP 33.00, closing 5.56% lower than yesterday’s close price.
