Helmy Hamza & Partners Advocates for Banque Misr's Ambitious Project Financing
Deal News | Nov 20, 2024 | Legal Community MENA
Helmy Hamza & Partners Baker McKenzie served as the lenders' counsel for Banque Misr in a major deal involving the development of a significant real estate project in Egypt. Banque Misr, along with Egbank and Suez Canal Bank, agreed on a loan structured as a long-term syndicated facility, valued at EGP 2.8 billion, to support Landmark Developments' new residential project, STEI8HT, in New Cairo City. The expansive 375-acre project will be a serviced residential area. Legal counsel was crucial in structuring the financing to cover not just development costs but also other associated project expenses.
Sectors
- Real Estate Development
- Banking and Finance
- Legal Advisory
Geography
- Egypt – The financing deal and the development project are both situated in Egypt, specifically in New Cairo City.
Industry
- Real Estate Development – The article primarily involves Landmark Developments, a major player in the real estate sector, undertaking a large-scale residential project.
- Banking and Finance – Banque Misr and other financing banks are central in structuring and providing the syndicated loan for the real estate project.
- Legal Advisory – Helmy Hamza & Partners Baker McKenzie acted as the lenders' legal counsel in structuring the agreement.
Financials
- EGP 2.8 billion – The total amount of the syndicated loan agreed upon by the lenders to finance the real estate project.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Helmy Hamza & Partners Baker McKenzie | Lenders' Counsel | Company | This legal firm provided legal counsel to the lenders involved in the financing deal. |
| Banque Misr | Lender | Company | A leading bank in Egypt, part of the syndicate providing the EGP 2.8 billion loan. |
| Egbank | Lender | Company | Part of the banking syndicate that provided the loan alongside Banque Misr. |
| Suez Canal Bank | Lender | Company | Another lending partner in the syndicate providing the loan for the project. |
| Landmark Developments | Target | Company | Egyptian real estate developer receiving the loan for its STEI8HT project in New Cairo. |