EBRD arranges US$ 265 million loan for ADD Properties in Egypt
Egypt, Oct. 30 -- The European Bank for Reconstruction and Development (EBRD) is arranging a US$ 265 million financing package to support the expansion and modernisation of the hospitality operations of ADD Properties, a member of Sami Saad Holding, in Egypt.The EBRD has been mandated as the initial lead arranger (IMLA) and bookrunner, and is providing the largest facility, at US$ 127.5 million. The International Finance Corporation (IFC), acting as a mandated lead arranger (MLA) is extending a loan of US$ 60 million by way of the Mutual Reliance Framework.Emirates NBD Egypt is acting as MLA, global facility agent and onshore account bank, providing US$ 40 million. DenizBank AG, a subsidiary of Emirates NBD Group, is serving as the offshore...
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