Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) said that its subsidiary Arab Company for Projects and Urban Development is currently considering a loan worth EGP 1.2 billion.

The loan will be used to partially finance the investment cost of Celia New Capital, the company said in a bourse disclosure on Monday.

In response to news reports about its subsidiary Al Rehab Securitization’s plans to issue securitised bonds worth EGP 885 million, 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).

During the first nine months of 2020, Talaat Moustafa Group recorded net profits of EGP 1.569 billion, up from EGP 1.312 billion in the corresponding period a year earlier.