{"id":637072,"date":"2017-11-07T04:09:36","date_gmt":"2017-11-07T04:09:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/07\/phd-to-delay-securitization-plan-until-interest-rate-drops\/"},"modified":"2017-11-07T04:09:36","modified_gmt":"2017-11-07T04:09:36","slug":"phd-to-delay-securitization-plan-until-interest-rate-drops","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/07\/phd-to-delay-securitization-plan-until-interest-rate-drops\/","title":{"rendered":"PHD to delay securitization plan until interest rate drops"},"content":{"rendered":"

Palm Hills Developments (PHD) is delaying its EGP 500 mn securitized bond issuance until after interest rates drop, Managing Director Tarek Abdel Rahman tells Al Borsa<\/a>. The company will be looking to the CBE\u2019s Monetary Policy Committee meeting on 16 November to gauge where interest rates are heading. He added that Sarwa Capital will manage the issuance while preliminary underwriters for the transactions will be CIB and Attijariwafa Bank.<\/p>\n","protected":false},"excerpt":{"rendered":"

Palm Hills Developments (PHD) is delaying its EGP 500 mn securitized bond issuance until after interest rates drop, Managing Director Tarek Abdel Rahman tells Al Borsa. The company will be looking to the CBE\u2019s Monetary Policy Committee meeting on 16 November to gauge where interest rates are heading. He added that Sarwa Capital will manage […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9304],"tags":[72,2402],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-637072","post","type-post","status-publish","format-standard","hentry","category-real-estate-housing","tag-enterpriseam","tag-real-estate-housing","wpautop","entry"],"acf":{"mongo_id":"b86feb5c-77f2-490e-b544-fdc452a04d79","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[637037],"teaser":"","voice_url":""},"yoast_head":"\nPHD to delay securitization plan until interest rate drops - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/07\/phd-to-delay-securitization-plan-until-interest-rate-drops\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PHD to delay securitization plan until interest rate drops\" \/>\n<meta property=\"og:description\" content=\"Palm Hills Developments (PHD) is delaying its EGP 500 mn securitized bond issuance until after interest rates drop, Managing Director Tarek Abdel Rahman tells Al Borsa. The company will be looking to the CBE\u2019s Monetary Policy Committee meeting on 16 November to gauge where interest rates are heading. 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The rate on a EGP 2.4 bn syndicated medium-term facility will be slashed to 1.75% over the lending corridor rate from 3.25%\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":642210,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/08\/phd-to-get-regulatory-approval-for-securitization-bonds-plans-another-issuance-before-year-end\/","url_meta":{"origin":637072,"position":1},"title":"PHD to get regulatory approval for securitization bonds, plans another issuance before year end","author":"enterpriseam admin","date":"8 August 2017","format":false,"excerpt":"Palm Hills Developments (PHD) announced beginningthe regulatory procedures necessary to get approvals for its EGP 700 mn securitized bonds issuance. PHD says it is also in process of obtaining the bonds\u2019 credit rating. It says a second securitization transaction for bonds worth EGP 600-700 mn and carrying tenors of up\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":635808,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/13\/phd-considers-upping-securitized-bond-issuance-to-egp-1-6-bn-next-year\/","url_meta":{"origin":637072,"position":2},"title":"PHD considers upping securitized bond issuance to EGP 1.6 bn next year","author":"enterpriseam admin","date":"13 December 2017","format":false,"excerpt":"Palm Hills Development (PHD) is considering increasing its securitized bond issuance to EGP 1.6 bn from EGP 500 mn, PHD Chairman Yassin Mansourtells Al Borsa. The company is looking into making the first issuance of EGP 800 mn in February 2018, and have the second half in mid-2018, he added.\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":633006,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/25\/tharwa-capital-requests-fra-approval-for-phds-egp-350-mn-securitized-bonds-issuance\/","url_meta":{"origin":637072,"position":3},"title":"Tharwa Capital requests FRA approval for PHD\u2019s EGP 350 mn securitized bonds issuance","author":"enterpriseam admin","date":"25 February 2018","format":false,"excerpt":"Tharwa Capital has requested approval from the Financial Regulatory Authority (FRA) for Palm Hills Developments\u2019 (PHD) EGP 300-350 mn securitized bonds issuance, Tharwa Managing Director Ayman El Sawy tells Al Borsa. PHD had decided last year to delay the issuance until after interest rates drop, and was considering upping the\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":603269,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/17\/cbe-agrees-to-lower-interest-rates-for-middle-income-housing\/","url_meta":{"origin":637072,"position":4},"title":"CBE agrees to lower interest rates for middle-income housing","author":"enterpriseam admin","date":"17 April 2019","format":false,"excerpt":"CBE to renew mortgage financing program for middle-income homeowners: The Central Bank of Egypt (CBE) has agreed to a proposal from the Federation of Egyptian Industries\u2019 Real Estate Development Chamber to reintroduce lower interest rates for would-be middle-income homebuyers, Zawya reports. 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