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Tuesday, 24 November 2020

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.

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