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Sunday, 5 July 2020

Palm Hills seeks EGP 400 mn following debt restructuring to develop The Crown

Palm Hills Developments is reportedly in talks with seven banks to restructure its EGP 1.24 bn debt and borrow an additional EGP 400 mn to expand its Crown development in Sixth of October, Al Shorouk reports, citing unnamed sources. The banks are said to include Attijariwafa Bank Egypt, Emirates NBD, First Abu Dhabi Bank, Al Ahly Bank of Kuwait, the Suez Canal Bank, Mashreq Bank, and the AAIB.

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