Madinet Nasr for Housing and Development (MNHD) has signed a 2.1 billion Egyptian pounds ($134.93 million) syndicated loan with three banks.
The loan will finance part of the investment cost of MNHD’s projects, Sarai 1 and Sarai 2, and pay an existing loan secured previously by the company from Arab African International Bank.
The Egyptian real estate development company, listed on the bourse, said in a statement that the loan was signed with National Bank of Egypt, Arab African International Bank and Banque Misr.
(Writing by Gerard Aoun, editing by Seban Scaria)
#EGYPT #MADINETNASR #FINANCIALSERIVICES
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2020