Baker McKenzie Cairo office, represented four syndicated lenders in the deal.
The original lenders, consisting of the Commercial International Bank (Egypt) S.A.E (CIB), Banque Misr, Banque du Caire and HSBC Bank Egypt, financed approximately $265 million 7 years term loan to ODE to settle its existing debt and to further support the developer’s growth plans. An additional tranche of up to $50 million (in Egyptian Pounds), will be available for drawdown over 2 years for future growth opportunities at the discretion of the Group including any planned capex for roll out of new rooms and renovation of hotels in the Group’s destinations.
Orascom Development Egypt is a subsidiary of Orascom Development Holding (ODH) which is a leading developer based in Egypt of fully integrated projects. ODE is one of the best builders in Egypt operating within the consumer services sector building resort towns to metropolitan areas.
The Helmy, Hamza & Partners, Baker McKenzie Cairo, team was led by Partner and Co-head of Banking & Projects Lamyaa Gadelhak (Picture) and supported by Senior Associate, Mostafa Lotayef and Associate Farah Abdel Rahman.
Law Firms: Baker McKenzie;