Egypt: Palm Hills to guarantee subsidiary in $212mln syndicated loan

The loan will be used to partially cover the investment cost of Badya project

Staff Writer, Arab Finance

September 19, 2024

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Palm Hills Development’s board has approved guaranteeing the company’s subsidiary Palm for Urban Development in the long-term syndicated loan worth EGP 10.3 billion granted by Banque Misr and other participating banks, the company stated.

The loan will be used to partially cover the investment cost of Badya project.

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