Heliopolis Housing inks debt transfer deal with QNB

Egypt’s state-run Heliopolis Company for Housing and Development signed a debt transfer agreement worth 394.5 million Egyptian pounds ($20.8 million) with Qatar National Bank Alahly (QNB Alahly).

The debt agreement includes a discount rate of 16.8 percent, whereby the debt value has reached 297.3 million pounds by 26 December 2016.