MBH with banking syndicate on EGP 5.2 billion financing to Inertia
Matouk Bassiouny & Hennawy (“MBH”) advised a syndicate of Egyptian banks – working under the leadership of Banque Misr and including Banque du Caire, National Bank of Egypt, Housing and Development Bank, as well as Suez Canal Bank – in connection with a EGP 5.2 billion Islamic Mudarabah financing facility to Egyptian real estate developer Inertia Developments.
Engineering Consulting Group (ECG) acted as the engineering advisor on the transaction, while Baker Tilly (Wahid AbdelGhaffar & Co) served as the auditor.
The context
The syndicate has granted a financing package of up to six years, set to bolster the development of Inertia’s “Jefaira – Ras El-Hekma” project, an integrated urban development on a 2.7 million square meter site.
The MBH team
Regional managing partner and group head of projects & finance Mahmoud Bassiouny (pictured) led the MBH team on the matter, working with senior associate Iman Nassar and associate Sherouk Haiba.
