SOURCE: Orascom Construction Inds, S.A.E.

October 04, 2011 04:35 ET

OCI Fertilizer Subsidiaries Secure Term Facilities

CAIRO, EGYPT--(Marketwire - Oct 4, 2011) -


                              Cairo, Egypt / 4 October, 2011 10:15 AM

OCI Fertilizer Subsidiaries Secure US$ 2.2 Billion of Term Facilities

Orascom Construction Industries (OCI) announced today that its wholly
owned Fertilizer Subsidiaries have signed Credit Facilities totaling
approximately US $ 1.9 billion with international, regional and local
relationship banks. These facilities will be used to refinance the
Group's existing credit facilities, which had significant portions
maturing in 2013. The new Credit Facilities have been organized at the
Fertilizer Group Companies level to facilitate the creation of
standalone Fertilizer and Construction businesses under a Holding
Company structure. The facilities will be syndicated in due course.

The details of the facilities are:

- US$ 775 million 5-year Term Facilities made available to Egyptian
Fertilizer Company (EFC). The Initial Mandated Lead Arrangers and
Underwriters are Al-Ahli United Bank, Arab Bank, Banque Audi, BNP
Paribas, Citi, Commercial International Bank, HSBC, National Bank of
Abu Dhabi, National Societe Generale Bank Egypt, and J.P. Morgan. Citi
acted as the Global Transaction Coordinator.

- EUR 550 million 5-year Term Credit Facilities available to OCI
Nitrogen B.V.. The Initial Mandated Lead Arrangers, Bookrunners and
Underwriters are Banque Audi, Barclays Capital, BNP Paribas, Rabobank
International, Credit Agricole Corporate and Investment Bank, Europe
Arab Bank, National Bank of Abu Dhabi, and Societe Generale. Rabobank
International acted as the Global Transaction Coordinator.

- Up to US$ 300 million 3-year Term Credit Facility available to
OCI Fertilizer Holdings. The Initial Mandated Lead Arrangers and
Underwriters are Arab Bank, .Banque Audi, Citi, and Societe Generale
Bank. Citi acted as the Global Transaction Coordinator.

In addition to the above facilities, IFC has approved an investment
package for Orascom Construction Industries that included a $200
million loan to the Egyptian Fertilizer Company and helping mobilize up
to an additional $125 million from Citi, National Bank of Abu Dhabi,
and Al-Ahli United Bank.

OCI Chief Financial Officer, Salman Butt, commented: "This transaction
is testament to our long-standing relationships with our core banking
group, who have come together to arrange and underwrite in this
sizeable credit package of US$ 2.2 billion in the current market
conditions. This package will help us achieve our twin objectives of i)
refinancing the credit facilities which were due in 2013 thereby
fulfilling our near-term refinancing obligations and ii) facilitating
our goal of borrowing within a Fertilizer Group structure to help
stream-line our credit facilities alongside our business segments. We
extend our appreciation to all the Mandated Lead Arrangers,
Bookrunners, Underwriters and the Lead Coordinating Banks, namely Citi,
Rabobank International and the International Finance Corporation, who
all worked with us in structuring and coordinating these facilities."


For additional information contact:

OCI Investor Relations      For additional information on OCI:
Department:
                             www.orascomci.com 

Omar Darwazah

Email:                      OCI stock symbols: OCIC.CA / OCIC EY /
 omar.darwazah@orascomci.com  OCICqL / ORSD / ORSCY

Erika Wakid                 Orascom Construction Industries (OCI)
Email:                      Nile City Towers - South Tower
 erika.wakid@orascomci.com    2005A Corniche El Nil
                            Cairo, Egypt
Hassan Badrawi
Director

Tel: +202 2461 1036/0727/0917
Fax: +202 2461 9409




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