Citadel Capital To Get $150M Finance

The U.S.Overseas Private Investment Corp.(OPIC), a U.S. government development finance institution, has cleared a $150 million financing facility for Cairo-based private equity firmCitadelCapital. The facility has a term of 10 years. Out of the total $150 million, $125 million is being given specially for investment in Egypt.

The OPIC financing, combined with the realization from the firm’s fully-subscribed $ 175.6 million rights issue, will place $325 million of long-term capital at Citadel’s disposal. Further, the company intends to boost its cash balances by $50 million through several small divestments during the coming months.

Click here for the release fromCitadel Capital.