Oriental Weavers Announces Agreement with Bank Audi to Finance the New Expansions

15 Jan 2015

January 15, 2015

CAIRO, January 15, 2015, Oriental Weavers agrees with Audi Bank to secure a USD 10 million, five-year medium term loan to finance the purchase of the 11 new looms which should have been fully delivered by March 2015. The facility carries an average rate of Libor + 2.25%.