Talaat Moustafa Group’s unit mulls borrowing EGP 1.2bn

Talaat Moustafa Group Holding (TMG Holding) said that its subsidiary Arab Company for Projects and Urban Development is currently considering a loan worth 1.2 billion Egyptian pounds.

The loan will be used to partially finance the investment cost of Celia New Capital, the company said.

In response to news reports about its subsidiary Al Rehab Securitization’s plans to issue securitised bonds worth 885 million Egyptian pounds, Talaat Moustafa Group said that the issuance is part of the company’s activities conducted in accordance with the regulations of the Financial Regulatory Authority (FRA).