Valoris Capital, a private equity management company has successfully launched its first private equity fund, Valoris Equity Fund. The Fund was launched with the support and backing of private and public institutional shareholders, mainly from the pension, banking and insurance sectors. In its first closing Valoris Equity Fund collected subscription commitments totalling over MDH 300 million […]
The European Bank for Reconstruction and Development (“EBRD”) is supporting the green economy in Egypt with a USD 100 million loan to Banque Misr for on-lending to local small and medium-sized enterprises (SMEs). The loan follows the success of the Green Economy Financing Facility (“GEFF”) in Egypt and will further support an expansion of green lending in Egypt to under-served regions […]
Banking & Finance
Transport
United Arab Emirates
Allen & Overy advises Investcorp on Trukker’s Pre-IPO round
Saudi-based Trukker Holding Limited (“Trukker”), digital freight network providers in the MENA region, has successfully raised USD 100 million in its pre-IPO financing round. The investment was led by the recently-launched Investcorp Saudi Pre-IPO Growth Fund and further included Abu Dhabi’s Mubadala Investment Company, who is an existing investor in the venture, KSA-based Riyad Valley […]
Abou Ghaly Motors (“AGM”), specialists in the automotive industry in Egypt, has successfully secured a finance extension from The European Bank for Reconstruction and Development (“EBRD”) to finance AGM’s fleet of range-extended electric vehicle for its London Cab services. A loan of EGP 187.4 million (around EUR 10 million) from the EBRD is being complemented […]
Banking & Finance
Banking & Finance
United Arab Emirates
ADCB prices USD 500 million inaugural green bond due 2027
Abu Dhabi Commercial Bank (“ADCB”) has successfully priced its inaugural green bond, raising USD 500 million to support the financing of low-carbon initiatives. The bonds will be issued on 14th September 2022 and due in 2027. The oversubscribed 5-year bond attracted a local and international investors that placed total orders of over USD 1.9 billion. […]
Banking & Finance
Capital Markets
Egypt
MBH advises Tasaheel in its EGP 2.66 Billion Securitization Transaction
Matouk Bassiouny & Hennawy (“MBH”) acted as the legal counsel to Tasaheel Microfinance Company (“Tasaheel”) in connection with an EGP 2.66 billion securitization transaction. The transaction is considered the first issuance of Tasaheeel and Mashroey’s third securitization program amounting to EGP 13 billion, comprising a portfolio of approximately EGP 15 billion. The MBH […]
Banking & Finance
Energy & Trading
Other
Masen and Edf Renouvelables in repowering Koudia Al Baida wind
The Moroccan Agency for Sustainable Energy (MASEN) and EDF Renouvelables have announced the financial closure of the repowering of the Nassim Koudia Al Baida Wind Farm, located in the region of Tlat Taghramt near Tangier in northern Morocco. Koudia Al Baida Energy Company, the SPV owned by MASEN and EDF Renouvelables, has received senior loans […]
Banking & Finance
Banking & Finance
Other
Bahrain’s Ahli United Bank concludes USD 1.1b in Murabaha Financing
Ahli United Bank (“AUB”) has secured a USD1.1 billion sustainable Murabahah financing facility. The dual-tranched facility is the first of its type raised by a financial institution worldwide, according to the bourse filing. The three-year facility was upsized to US$1.1 billion from its original amount of US$750 million due to high demand. One tranche represents […]
Banking & Finance
Energy & Trading
Other
Asafo & Co. advises Norfund in its investment in CrossBoundary
Norfund and KLP, Norway’s largest pension company, will together invest USD 40 million in equity in CrossBoundary Energy (CBE), a developer, owner, and operator of commercial and industrial renewable energy systems in Africa. The investment will be made through the joint company KLP Norfund Investments. The investment will allow CrossBoundary Energy to further scale its […]
Banking & Finance
Banking & Finance
United Arab Emirates
Dubai’s FinTech YAP raises USD41m in latest funding round
UAE-based fintech YAP, a digital banking platform, has raised USD41 million in a pre-series A funding round to fund its operations and growth. The round was led by Saudi Arabia’s investment company Aljazira Capital, alongside notable investments from Abu Dawood Group, Astra Group, and Audacia Capital. YAP plans to complete its Series A by the […]
