EFG Hermes Concludes Advisory on EGP 750m Financing Transaction for MARAKEZ

EFG Hermes Concludes Advisory on EGP 750m Financing Transaction for MARAKEZ

Kayode Tokede

EFG Hermes, has announced that its Investment Banking division successfully closed advisory on the latest EGP 750 million financing over two tranches in a sale and leaseback package for MARAKEZ, one of the largest mixed-use developers in Egypt.

The division acted as the sole financial advisor and arranger on the transaction, while EFG Hermes Corp-Solutions, a wholly-owned subsidiary of EFG Hermes Holding and one of Egypt’s leading leasing and factoring companies, acted as the leasing partner and EFG Hermes’ recently acquired aiBANK acted as the lender.

The Managing Director and Deputy Head of EFG Hermes’ Investment Banking division, Maged El Ayouti  in a statement said, “We are proud to have carried on our role as trusted partners in our long-standing relationship with MARAKEZ in their EGP 2.25 billion financing transactions over the past two years.

“This transaction is a testament to our ability to seamlessly cross-sell products across EFG Hermes, with this transaction seeing the first-time participation of both EFG Hermes Corp-Solutions and aiBANK alongside the Investment Banking division, cementing our positioning as a one-stop-shop for our clients’ ever-evolving financing needs.”

Tamer Seif, CEO and Managing Director of aiBANK, commented, “We are extremely delighted to have collaborated with other subsidiaries across EFG Hermes Holding to provide support to MARAKEZ, allowing us to diversify our portfolio and increase our exposure to high quality, income-generating businesses.”

CEO of Marakez, Basil Ramzy  in the statement said “This collaboration comes within our strategy to join hands with established partners that further consolidate our leading market position and boost our expansion plans in Egypt and beyond it. EFG Hermes is a longstanding partner of MARAKEZ and the current transaction is a testament to our solid financial performance and certainly advances our growth in new directions and landscapes.” 

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