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D.Bank, HSBC, KfW fix 3.5 bln eur finance for Egypt power plants

Reuters - UK Focus

FRANKFURT, April 12 (Reuters) - Deutsche Bank (LSE: 0H7D.L - news) , HSBC and KfW's Ipex Bank have arranged 3.5 billion euros ($4 billion) in financing for Egypt's state-owned EEHC to buy three gas power plants from Siemens (BSE: SIEMENS4.BO - news) , Deutsche Bank said on Tuesday.

The three are syndicating the debt to 17 international banks, with Deutsche Bank acting as coordinating bookrunner.

The financing is being underwritten by Germany's export credit guarantee agency Hermes, and the loans are guaranteed by the Egyptian Finance Ministry.

The first financing tranche for one of the three planned plants - part of Siemens' biggest-ever single order - was secured in November.

($1 = 0.8788 euros) (Reporting by Georgina Prodhan; Editing by Maria Sheahan)