Sharkawy & Sarhan advises IFC on $250M long-term loans to CIB
Sharkawy & Sarhan acted as the Egyptian legal adviser to The International Finance Corporation (IFC) on securing USD250 million long-term loans to Commercial Bank International (CIB) to support its capital and fund green projects.
The first loan, a ten-year term USD 150 million Tier II loan, will allocate $90 million to refinance CIB’s outstanding subordinated debt owed to IFC, while the remaining USD 60 million will bolster the bank’s sustainable growth plans.
The second loan, a seven-year term USD 100 million senior loan, will finance a range of green projects, encompassing water treatment and efficiency, green buildings, and renewable and sustainable agriculture initiatives.
Sharkawy & Sarhan Banking & Finance team was led by Partner Ahmed Haggag (pictured), closely supported by associate Raghda ElQabbage.
