Dreny & Partners with Tamweel on Mudarabah Sukuk issuance
Dreny & Partners advised Tamweel Mortgage Finance on the structuring and issuance of their Mudarabah Sukuk on the Egyptian real estate mortgage market, valued at EGP 5.5 billion.
The banking advisors
Al Ahly Pharos for Promoting and Underwriting and Arab African International Bank acted as the financial advisors, and lead arrangers on the transaction. Al Ahly Pharos for Promoting and Underwriting also served as the underwriter, along with Arab African International Bank, National Bank of Egypt, Suez Canal Bank, and Al-Baraka Bank. Moreover, Arab African International Bank also acted as the settlement agent and the National Bank of Egypt acted as the bookrunner. Baker Tilly served as the official auditor, with RSM acting as the independent financial advisor.
The Dreny & Partners team
Managing partner Motaz El Dreny (pictured centre) led the Dreny & Partners team on the matter. The firm’s capital market team included senior associates Sherine El Menyawy (pictured left) and Metwally Sweify (pictured right). The corporate and M&A team featured managing associate Nada Kamal. Senior associate and head of capital markets procedures team Nagy Mostafa Ebeid and sssociate Mohamed Youssef contributed from the capital markets procedures team.
