Cairo - Mubasher: Palm Hills Developments said that it has begun the procedures for issuing EGP 700 million worth of bonds.
The company said in a statement to the Egyptian Exchange (EGX) on Monday that it aims at the securitization of the receivables for housing units worth EGP 2.5 billion, which are set to be delivered within two to three years.
According to the statement, the move comes as part of the company’s plan to reduce financial leverage and improve its financial position.
