Back to the complete issue
Sunday, 20 September 2020

Who’s in the market for debt: Hassan Allam, Ezz Steel, GASCO

Hassan Allam Properties is seeking to obtain a EGP 1.6 bn loan to finance various real estate projects under development, Al Shorouk reports, citing unnamed sources familiar with the matter. The National Bank of Egypt has presented the company with a financing offer for the loan, the report adds.

Ezz Steel is looking to increase its loans with a banking consortium from EGP 5.8 bn to 6.5 bn in exchange for extending its repayment period from six to eight years, Al Shorouk reports, citing unnamed sources familiar with the matter.

The Egyptian Natural Gas Company (GASCO) is in talks with several local banks to borrow USD 200 mn for expansion works at its Western Desert Gas Complex in Alexandria, Al Shorouk reports, citing unnamed sources familiar with the matter.

 

CORRECTION- 20 September 2020

An earlier version of this story incorrectly stated that Hassan Allam Construction — a subsidiary of Hassan Allam Holding (HAH) — is seeking a loan from the National Bank of Egypt. The correct company is Hassan Allam Properties, which is not a subsidiary of HAH. 

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.