{"id":609660,"date":"2023-11-08T00:00:00","date_gmt":"2023-11-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/debt-news-from-tatweer-misr-raya-plus-expat-car-for-fx-initiative-registers-100k-in-first-week-tantawy-on-trial\/"},"modified":"2023-11-08T00:00:00","modified_gmt":"2023-11-08T00:00:00","slug":"debt-news-from-tatweer-misr-raya-plus-expat-car-for-fx-initiative-registers-100k-in-first-week-tantawy-on-trial","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/debt-news-from-tatweer-misr-raya-plus-expat-car-for-fx-initiative-registers-100k-in-first-week-tantawy-on-trial\/","title":{"rendered":"Debt news from Tatweer Misr + Raya. Plus: Expat car-for-FX initiative registers 100k in first week, Tantawy on trial"},"content":{"rendered":"

DEBT-<\/strong><\/p>\n

#1- AAIB extends EGP 3.5 bn facility to Tatweer Misr:<\/strong> Real estate developer Tatweer Misr is taking out an EGP 3.5 bn facility from the Arab African International Bank (AAIB), it said in a press release<\/a>. The developer will use the funds to accelerate the construction of its Il Monte Galala<\/a> project in Ain Sokhna and Bloomfields<\/a> in Mostakbal City.<\/p>\n

Advisors:<\/strong> AAIB is lead arranger, coverage guarantor, facilitation agent, and guarantee agent. Matouk Bassiouny & Hennawy<\/a> is acting as AAIB\u2019s legal advisor and Sarie El Din and Partners<\/a> is Tatweer Misr\u2019s legal advisor on the transaction.<\/p>\n

#2- Raya wants in talk for finance: <\/strong>Raya Holding\u2019s IT arm Raya Information Technology is currently in talks for facilities to support new tech solutions and IT infrastructure projects, it said in an EGX disclosure (pdf)<\/a>. <\/p>\n

FX WATCH-<\/strong><\/p>\n

Relaunched e<\/strong>xpat<\/strong> car-for-FX initiative clocks in 100k registrations in first week:<\/strong>Around 100k Egyptians residing abroad have registered to take part in the expat car-for-FX initiative in only one week since its launch, the Finance Ministry said in a statement<\/a> on Tuesday. The car-for-FX initiative allows Egyptians living abroad to import cars tax-free, provided that they deposit the equivalent of saved duties and taxes in a five-year FX certificate of deposit. <\/p>\n

High hopes:<\/strong> The current iteration of the program could generate up to USD 1.1 bn in hard currency receipts, Parliamentary Affairs Minister Alaaeddin Fouad said in October<\/a>.<\/p>\n

POLITICS-<\/strong><\/p>\n

Tantawy is going on trial: <\/strong>Former Egyptian presidential candidate Ahmed Al Tantawy, alongside 22 of his campaign staff, will stand trial on 28 November for asking supporters to print out their own endorsement forms and hand them in instead of using the election authority\u2019s official forms, according to the AFP<\/a>. Tantawy\u2019s charge of circulating electoral documents without the necessary legal authorization, according to the newswire, comes a month after he dropped out of the presidential race last month after falling short of the 25k minimum needed to run.<\/p>\n","protected":false},"excerpt":{"rendered":"

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The agreement will help finance the company\u2019s Il Monte Galala beachfront development in Ain Sokhna and its Bloomfields residential compound in New\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555413,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/14\/more-green-finance-for-smes-courtesy-of-the-ebrd\/","url_meta":{"origin":609660,"position":1},"title":"More green finance for SMEs, courtesy of the EBRD","author":"enterpriseam admin","date":"14 November 2021","format":false,"excerpt":"Banque Misr in line for more EBRD climate financing: The European Bank for Reconstruction and Development (EBRD) could soon sign off on a USD 100 mn facility to state-owned Banque Misr to finance local SMEs working on green projects, according to the lender\u2019s website. The state-owned bank will on-lend the\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556976,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/spmd-threatens-legal-action-in-response-to-allegations-of-market-manipulation\/","url_meta":{"origin":609660,"position":2},"title":"SPMD threatens legal action in response to allegations of market manipulation","author":"enterpriseam admin","date":"1 September 2021","format":false,"excerpt":"Speed Medical responds: Speed Medical issued a statement (pdf) threatening to take legal action for possible defamation against any media outlet that covers allegations of market manipulation made by an unnamed shareholder. The dust up comes after Speed Medical said in late August, in an unusually frank regulatory filing, that\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571460,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/12\/mnhd-signs-egp-2-1-bn-loan-agreement-with-nbe-aaib-and-banque-misr\/","url_meta":{"origin":609660,"position":3},"title":"MNHD signs EGP 2.1 bn loan agreement with NBE, AAIB and Banque Misr","author":"enterpriseam admin","date":"12 May 2020","format":false,"excerpt":"Madinet Nasr Housing and Development has signed a EGP 2.1 bn long-term joint loan agreement with the National Bank of Egypt, the Arab African International Bank and Banque Misr, the local press reports. The loan will be used to partially finance MNHD\u2019s Saray 1 and Saray 2 real estate projects\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595747,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/05\/tatweer-misr-says-north-coasts-fouka-bay-investments-worth-egp-4-bn\/","url_meta":{"origin":609660,"position":4},"title":"Tatweer Misr says North Coast\u2019s Fouka Bay investments worth EGP 4 bn","author":"enterpriseam admin","date":"5 August 2019","format":false,"excerpt":"Tatweer Misr is investing an estimated EGP 4 bn in its Fouka Bay project on the North Coast, excluding land value and marketing expenses, CEO Ahmed Shalaby told Reuters Arabic. Shalaby did not disclose when the development would be complete. The company is considering investing outside Egypt in 2023, and\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577528,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/btech-could-issue-its-first-securitized-bonds-by-the-end-of-the-year\/","url_meta":{"origin":609660,"position":5},"title":"BTECH could issue its first securitized bonds by the end of the year","author":"enterpriseam admin","date":"27 November 2022","format":false,"excerpt":"Electronics retailer BTECH is looking to issue more than EGP 1 bn worth of securitized bonds before the end of 2022 to finance its consumer finance operations, BTECH CEO Mahmoud Khattab said (watch, runtime: 48:36) The issuance is part of a plan to issue securitized bonds worth EGP 8-9 bn\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/414.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/609660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=609660"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/609660\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/609640"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/609661"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=609660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=609660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=609660"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=609660"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=609660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}