DEBT WATCH- City Edge plans to issue EGP 600 mn in securitized bonds in 2Q2021, CEO Mohamed Makkawy told Al Mal. The securities will be backed by 200 units the company has sold in its Etapa project in Sheikh Zayed, he said, adding that the proceeds from the offering will be used to buy more land plots for new projects. The 77-feddan Etapa compound contains 493 residential units, and the company is seeking almost EGP 1.8 bn in loans to construct a hotel and a number of administrative and commercial projects, Makkawy said.
More from Enterprise
The National Bank of Egypt and Banque Misr just hiked rates on CDs — moves that could see the EGP gain against the USD
NBE and BM both hiked rates on CDs by 125…
Qatar’s Green Sky Capital secures financing for USD 200 mn SAF plant
The facility could add more than 10% to global SAF…
EGX30 erases March losses with 14.2% April surge
The rally piled on roughly EGP 433 bn in market…
Kiwe gets Central Bank green light to launch nationwide
The startup is backed by our friends at EFG Hermes,…