Bankmed and Bank Audi have agreed to refinance the debts of La Société des Grands Hotels du Liban (SGHL), owners of the Hotel Phoenicia and Le Vendome, after negotiations to restructure the debt. Bankmed is the main lender.
The banks agreed on the rescheduling of debt payments based on a payment-in-kind security against Le Vendome hotel. As the Central Bank (BDL) is facilitating debt relief schemes to businesses, its Banking Control Commission participated in the negotiati...
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