Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) on Sunday said it was still in talks reagrding a long-term financing deal provided by a coalition of three banks.
The loan will be worth EGP 2.1 billion, the company said in a bourse filing as clarification to news published in a local newspaper.
Earlier on Sunday, El-Shorouk newspaper reported that MNHD’s board had approved the EGP 2.1 billion loan offer made by three banks, namely the National Bank of Egypt (NBE), Commercial International Bank – Egypt (CIB), and Arab African International Bank (AAIB).
In November, the Egypt-listed housing company announced negotiating with several banks to receive an EGP 2.1 billion loan to finance its Sarai project.
MNHD’s share closed Sunday’s trading session down 1.95% at EGP 18.62.
