Who’s in the market for debt? Remco, HD Leasing, El Nasr Auto, Marsa Alam for Tourism Development
Tourism developer Remco and two of its affiliate companies are in talks to obtain a two-tranche EGP 3.3 bn syndicated loan to refinance debt and lease payments and finance working capital, the company said in a regulatory filing (pdf). Banque Misr is joining several other unnamed banks and leasing companies to arrange the loan.
Marsa Alam for Tourism Development is in negotiations with a local bank for a EGP 450 mn loan to cover running costs, sources told Al Shorouk.
El Nasr Automotive is in negotiations with a syndicate of local banks for a EGP 2 bn loan to fund the establishment of a factory for electric vehicles, sources told Al Shorouk. China’s Dongfeng signed a MoU last month to assemble electric cars at El Nasr’s facilities.
HD Leasing is in talks with unnamed local banks to obtain EGP 1 bn to expand its lending portfolio, Managing Director Ayman Tobar told Al Mal.