MBH advises FABMisr and a syndication of reputable lenders on an EGP 4.2 billion syndicated facility extended to Redcon Properties

We are pleased to announce that Matouk Bassiouny & Hennawy (“MBH”) acted as legal counsel to FABMisr acting as the IMLA, Bookrunner, Facility Agent, Account Bank and Security Agent along with a syndication of reputable banks, including Abu Dhabi Commercial Bank, Al Baraka Bank Egypt, Arab Bank and Emirates NBD, on an EGP 4.2 billion syndicated facility extended to Redcon Properties for purposes of partially financing the investment cost of Redcon Properties - “Golden Gate Project”.

The facility was 1.2x oversubscribed, whereby Lenders, with our support, activated the Greenshoe option, raising the facility amount from originally EGP 3.5 billion to EGP 4.2 billion - a testament to the innovative structure and lenders’ trust in the Golden Gate project.

The MBH team advising on the matter was led by Mahmoud S. Bassiouny (Regional Managing Partner and Group Head of Finance & Projects) and included Iman Nassar (Senior Associate).