{"id":645834,"date":"2017-07-31T03:53:57","date_gmt":"2017-07-31T03:53:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/31\/phd-successfully-concludes-negotiations-to-reduce-interest-on-its-debts\/"},"modified":"2017-07-31T03:53:57","modified_gmt":"2017-07-31T03:53:57","slug":"phd-successfully-concludes-negotiations-to-reduce-interest-on-its-debts","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/31\/phd-successfully-concludes-negotiations-to-reduce-interest-on-its-debts\/","title":{"rendered":"PHD successfully concludes negotiations to reduce interest on its debts"},"content":{"rendered":"

Palm Hills Developments (PHD) has successfully concluded negotiations with its lenders to reduce interest rates on its medium-term debts, the company said in a regulatory bourse filing (pdf)<\/a>. 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% currently, while the interest rate on a EGP 750 mn loan will be cut to 1.9% over the lending corridor rate from 2.9%. PHD expects to save c.EGP 100 mn in financing costs from the interest rate reduction during the tenor of both loans.<\/p>\n","protected":false},"excerpt":{"rendered":"

Palm Hills Developments (PHD) has successfully concluded negotiations with its lenders to reduce interest rates on its medium-term debts, the company said in a regulatory bourse filing (pdf). 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% currently, while the interest rate […]<\/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-645834","post","type-post","status-publish","format-standard","hentry","category-real-estate-housing","tag-enterpriseam","tag-real-estate-housing","wpautop","entry"],"acf":{"mongo_id":"bcf8012b-f849-4ef0-b0e7-d2082f2614af","order":"0","is_powered_by":true,"section_story_id":"5976770c-33d9-4b54-b753-b35ad2b975f0","story_type":"1","photo_url":"","photo_position":"above","related_issue":[645802],"teaser":"","voice_url":""},"yoast_head":"\nPHD successfully concludes negotiations to reduce interest on its debts - 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\/07\/31\/phd-successfully-concludes-negotiations-to-reduce-interest-on-its-debts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PHD successfully concludes negotiations to reduce interest on its debts\" \/>\n<meta property=\"og:description\" content=\"Palm Hills Developments (PHD) has successfully concluded negotiations with its lenders to reduce interest rates on its medium-term debts, the company said in a regulatory bourse filing (pdf). 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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\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":648711,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/10\/phd-secures-egp-852-mn-loan-to-finance-west-cairo-project\/","url_meta":{"origin":645834,"position":1},"title":"PHD secures EGP 852 mn loan to finance West Cairo project","author":"enterpriseam admin","date":"10 April 2017","format":false,"excerpt":"Palm Hills Developments (PHD) signed an EGP 852 mn syndicated medium-term loan to finance part of the acquisition of 190 feddans in West Cairo. The loan is provided by National Bank of Egypt (NBE) and National Bank of Abu Dhabi (NBAD) and carries an interest rate of 1.5% over the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":652045,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/27\/phd-looking-to-borrow-egp-852-mn-from-egyptian-banks\/","url_meta":{"origin":645834,"position":2},"title":"PHD looking to borrow EGP 852 mn from Egyptian banks","author":"enterpriseam admin","date":"27 February 2017","format":false,"excerpt":"Palm Hills Developments (PHD) says it is looking to borrow EGP 852 mn to finance a number of projects, according to a regulatory disclosure. PHD denied it has already reached a final loan agreement with National Bank of Egypt and National Bank of Abu Dhabi-Egypt for the funding and that\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":627471,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/heliopolis-housing-reaches-egp-15-mn-settlement-agreement-with-magic-dreams\/","url_meta":{"origin":645834,"position":3},"title":"Heliopolis Housing reaches EGP 15 mn settlement agreement with Magic Dreams","author":"enterpriseam admin","date":"3 June 2018","format":false,"excerpt":"The Heliopolis Company for Housing and Development (HCHD) announced on Thursday (pdf) reaching a EGP 15 mn settlement agreement with Magic Dreams on the dispute related to the development of Merryland Park. 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