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PHDC - Palm Hills Developments News Story

$5.1 0.0  0.0%

Last Trade - 04/04/18

Sector
Financials
Size
Micro Cap
Market Cap £14.6m
Enterprise Value £214.7m
Revenue £236.7m
Position in Universe th / 1826

BRIEF-Palm Hills secures reduction of interest rates on existing debt

Mon 31st July, 2017 7:01am
July 31 (Reuters) - PALM HILLS DEVELOPMENTS COMPANY 
 PHDC.CA : 
    * CONCLUDES NEGOTIATIONS WITH LENDING BANKS AND RECEIVES 
APPROVAL ON REDUCTION OF INTEREST RATES APPLICABLE TO BULK OF 
ITS EXISTING DEBT 
    * INTEREST RATE APPLICABLE TO SYNDICATED MEDIUM TERM LOAN OF 
EGP 2.4 BILLION WILL BE REDUCED FROM 3.25 PERCENT OVER LENDING 
CORRIDOR RATE TO 1.75 PERCENT 
    * INTEREST RATE APPLICABLE TO SYNDICATED MEDIUM TERM LOAN OF 
EGP 750 MILLION WILL DECREASE FROM 2.9 PERCENT OVER LENDING 
CORRIDOR RATE TO 1.9 PERCENT 
    * REDUCTION IN INTEREST RATES WILL RESULT IN TOTAL SAVINGS 
OF C.EGP 100 MILLION ON FINANCING COSTS TO PHD OVER TENOR OF 
LOANS 
 
Source text for Eikon:  ID:nRSe5048Ma  
Further company coverage:  PHDC.CA  
 
 ((Bangalore.newsroom@thomsonreuters.com;))

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