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Tuesday, 10 March 2020

MNHD plans new EGP 2 bn securitized bond offering

DEBT WATCH- MNHD plans new EGP 2 bn securitized bond offering: Madinet Nasr for Housing and Development is considering issuing another EGP 2 bn in securitized bonds this year, MNHD CEO Ahmed El Hitamy told Al Mal. The real estate company sold EGP 305 mn in corporate bonds earlier this year to fund expansion.

MNHD to secure EGP 2.1 bn loan for Saray projects within two months: Banque Misr and the National Bank of Egypt (NBE) will join the Arab African International Bank (AAIB) to extend a seven-year EGP 2.1 bn loan to MNHD which it will use to finance its Saray real estate project, El Hitamy said. The real estate company will sign a final contract with the three banks in the coming two months, he said. The AAIB said at the end of last year that it was in talks with several banks to contribute towards the loan.

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