Egypt

We are pleased to announce that Matouk Bassiouny & Hennawy (“MBH”) acted as legal counsel to Fawry MSME Finance (“Fawry”) in connection with the launch of its EGP 8 billion multi-issuance securitization program as well as the first issuance, valued at EGP 497.5 million. This transaction marks Fawry’s first-ever securitization. The issuance received an A- (investment-grade) rating and will support Fawry in diversifying its funding sources to meet the growing credit demand of Egypt’s MSME sector. The MBH team advising on the securitization was led by Imane Raouf (Partner), with support from Abdelrheem Ashraf (Senior Associate) and Mariam Goubran (Associate). CI Capital acted as financial advisor, lead arranger, issuance manager, and bookrunner. EG Bank served as custodian, Russel Bedford as auditor, and Middle East Rating & Investors Service (“MERIS”) as the rating agency. For more about Matouk Bassiouny, check out our website at https://matoukbassiouny.com/.

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). For more about Matouk Bassiouny, check out our website at https://matoukbassiouny.com/.  

We are pleased to announce that Matouk Bassiouny & Hennawy’s (“MBH”) litigation team successfully secured two favorable rulings before the Administrative Courts for a leading real estate developer, dismissing a lawsuit filed against them that challenged their right to amend the master plan of a major real estate project spanning 900 feddan in 6th of October City. The recent ruling was established after a successful representation of our team before the Supreme Administrative Court, which reversed a previous ruling—issued by the same circuit—that had cancelled the project’s master plan. The MBH team that handled these cases consisted of Amr Ehab (Partner) and Mohamed Etrby (Senior Associate), and Nora Rabie (Senior Associate). Partner, Amr Ehab, commented saying: “This ruling is a landmark for real estate developers, especially those involved in large-scale projects. It also sends a positive signal to investors. Projects of this magnitude inevitably require phased development, which is critical to supporting the growth of Egypt’s real estate sector and aligning with the latest international standards.”.” For more about Matouk Bassiouny, check out our website at https://matoukbassiouny.com/.

We are pleased to announce that Matouk Bassiouny (“MB”) acted as the legal counsel to BECO Capital in connection with their investment in Thndr, a fast-growing investment platform transforming the financial landscape across the Middle East and North Africa region. This marks Thndr’s second major funding round, raising USD 15.7 million in a transaction led by Prosus Ventures, with participation from JIMCO Capital, Endeavor Catalyst, Y Combinator, and a prominent U.S. university endowment, among other global investors. The newly secured funds will be deployed to fuel Thndr’s ambitious regional expansion, with a strategic focus on the UAE and Saudi Arabia. The MB team advising on the transaction was led by Mohamed Essam (Partner and Head of Corporate and M&A UAE Offices and ECVC) with support from Moustafa Rizk (Senior Associate). For more about Matouk Bassiouny, check out our website at https://matoukbassiouny.com/.