Cairo - Mubasher: Egyptian Refining Company (ERC), a subsidiary of Qalaa for Financial Investments (Qalaa Holdings), repaid $417 million to its creditors on 19 December, cutting its senior debt to $63 million from $2.35 billion.
The remaining balance of senior debt is scheduled for payment in March 2026, according to a bourse filing.
Meanwhile, ERC’s mezzanine debt stands at approximately $773 million, payable in installments through 2030.
It is worth noting that following the full repayment of the senior debt and approval from its general assembly, ERFC will be eligible to distribute dividends to its shareholders.
During the first quarter (Q1) of 2025, Qalaa Holdings’ revenues remained largely stable at EGP 37.20 billion.
