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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. 

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