IEOC

Mauritius Commercial Bank Limited (MCB) Acts as Mandated Lead Arranger in Apex’s Egyptian Natural Gas Investment

Retrieved on: 
Thursday, February 2, 2023
Eni, Natural gas, NEWS, BWE, Lead arranger, Mauritius Commercial Bank, Equator Principles, SEM, IEOC, Growth, ESG, Acquisition, Renewable energy, Oil, MCB, Apex

Apex will now own interests in eight Western Desert concessions (six of the eight concessions will be operated by Apex).

Key Points: 
  • Apex will now own interests in eight Western Desert concessions (six of the eight concessions will be operated by Apex).
  • The acquisition is being financed in part through a senior secured borrowing base facility with The Mauritius Commercial Bank Limited (‘MCB’) acting as Mandated Lead Arranger, Modelling Bank and Hedging Bank.
  • Prior to financing this project, MCB applied the Equator Principles to proactively identify and mitigate environmental and social risk.
  • Apex also expects to commence its first natural gas production during the second quarter of 2023.