EGYPT: Entertainment and tourism firm Golden Coast Company, a subsidiary of Golden Pyramids Plaza, has appointed S&P Global Ratings to assess its creditworthiness for a green Sukuk program worth EGP7 billion (US$226.35 million), reduced from the initial EGP8 billion (US$258.68 million), reported Daily News Egypt. The company intends to use the proceeds of the green Sukuk to finance its Soma Bay Resort project.
The company hopes to complete the issuance in H1 2024. Golden Coast had mulled the green Sukuk issuance since 2023.
