OHD is said to have finalised loan refinancing package
Orascom Hotels and Development (OHD) is set to sign final agreements with banks in a week’s time for a syndicated loan worth cEGP1bn, as part of its plan to reschedule its outstanding short-term loans. The loan is split into two components: an EGP-denominated portion worth cEGP439mn and an cUSD61mn portion (equivalent to cEGP541mn). The news is yet to be confirmed by the company. OHD had announced that it was in advanced negotiations for an optimum debt financing package. (Al Mal)
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