Cairo – Mubasher: EFG Hermes Holding is arranging new loans worth a combined EGP 3 billion in favour of two companies.
One of the companies is operating in grain trading, while the other is a real estate developer, sources told local newspaper Almal.
The contracts of these loans are projected to be signed by the end of this year, the sources said.
These funds are expected to be secured from Egyptian lenders, they indicated.
The Cairo-based investment bank said it will manage to restructure the unnamed grain trading firm, sources added, expecting the completion of all restructuring procedures by end-2018.