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Orascom Development says it secured $132 million in finance
The international developer secures $132 million in loans to fund its 2012 expected capital expenditures
Ahram Online Published in Ahram Online on 18 - 01 - 2012

Orascom Development Holding(ODH) has finalised credit agreements in the total amount of CHF125 million ($132 million) for the purposes of financing the company's activity in 2012, ODH said in a press release on Tuesday.
The facility will also result in lower average cost of debt for the group. According to the statement, any extra investments needed will be injected by majority shareholder, Samih Sawiris, if necessary.
ODH is expected to report full-year 2011 results and provide guidance for FY12 on 30 March 2012.
The Group's subsidiary AndermattSwiss Alps is expected to announce the current status of sales and the next implementation steps in the Andermatt project onFebruary 14th, 2012.
ODH reported a net loss for the first 9-month of 2011 of $95.5 million down from a net profit of $10.8 million for the same period in 2010.

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