United Sugar Company $100 million debt for equity swap

Overview:

• European Bank for Reconstruction and Development agreed to invest $100 million in the United Sugar Company of Egypt.
• As part of this agreement, the bank agreed to swap $50 million of existing debt for equity.
• The agreement also included an additional $50 million in mezzanine financing for the borrower. 
• The United Sugar Company of Egypt is a subsidiary of the Savola Group, a publicly listed company in Saudi Arabia. 

Rani Mehta - Journalist