RLPC-Egypt's Orascom Telecom in talks for $2.5 bln loan -sources

LONDON, Feb 18 (Reuters) - Egypt's Orascom Telecom (ORTE.CA), the fourth-biggest Arab mobile operator by market value, is in talks with 12 banks to arrange a $2.5 billion syndicated loan that will refinance its existing debt, banking sources said on Monday.

The 12 banks expected to be appointed to lead the deal are Banque Misr, Barclays, BNP Paribas, Calyon, HSBC, ING, JP Morgan, Mashreq Bank, National Bank of Egypt, Standard Bank, Standard Chartered Bank and WestLB.

Proceeds will be used to refinance the borrower's $2.56 billion loan signed in 2006 and paid a margin of 275 basis points over LIBOR. (Reporting by Christopher Mangham, editing by Will Waterman)