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Sunday, 30 August 2020

CIB, MNHD sign EGP 1.1 bn syndicated loan agreement

Our friends at CIB will be leading a consortium to arrange a EGP 1.1 bn syndicated loan for Madinet Nasr Housing and Development (MNHD), MNHD said in a regulatory filing. The Arab Investment Bank, the Egyptian Gulf Bank, and the Union National Bank are also participating in the seven-year facility. The loan’s proceeds will help MNHD push forward with plans to invest EGP 12 bn over the next three years in its Sarai and Taj City compounds.

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