MBH with FABMisr on Redcon Properties’ syndicated facility
Matouk Bassiouny & Hennawy (MBH) advised FABMisr and a syndication of lenders on an EGP 4.2 billion syndicated facility extended to Redcon Properties.
The context
In connection with the operation, FABMisr acted as the IMLA, Bookrunner, Facility Agent, Account Bank and Security Agent along with a syndication of banks, including Abu Dhabi Commercial Bank, Al Baraka Bank Egypt, Arab Bank and Emirates NBD,
The facility aims at partially financing the investment cost of Redcon Properties’ “Golden Gate Project”, and fostered a 1.2x oversubscription. Infact, Lenders activated the Greenshoe option, thus raising the facility amount from originally EGP 3.5 billion to EGP 4.2 billion.
The MBH team
Regional managing partner and group head of finance & projects Mahmoud S. Bassiouny (pictured) led the MBH team on the matter, with support from senior associate Iman Nassar.
