Palm Hills to Issue Bonds Worth EGP 700 mn

Palm Hills to Issue Bonds Worth EGP 700 mn

Egyptian real estate company Palm Hills Developments begins the regulatory procedures of issuing securitization bonds of up to EGP 700 mn, Invest-Gate reports.

The company aims to securitize accounts receivable for housing units worth EGP 2.5 bn, delivered to clients over a period of two to three years.

The move comes as part of the company’s plan to reduce financial leverage and improve its financial position.

The- five-year bonds are expected to be issued before the end of this year.

Menna A. Farouk 368 Posts

Menna A. Farouk is a Cairo-based reporter. She has contributed to several international news organizations, including Deutsche Welle, Al-Monitor and Global Voices.


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