Arab Finance: Al -Ahly Pharos Company for the promotion and coverage of the subscription announced the arm of the investment banks for the National Bank of Egypt group, its successful role as the director of the issuance, the financial advisor, the salary, a promoter and the coverage of the first issuance of instruments in the form of participation for Al -Ahly Company for Communication, through a participation instruments worth 2.8 billion Egyptian pounds, according to the statement sent on May 6.
The edition aims to finance the “Bab Misr” project, which is developed by Bab Misr for Urban Development Company. The release was very popular with investors, as the coverage rate exceeded the size of the release.
This proposal represents a milestone in the development of the debt market in Egypt, as it is the first issue of sukuk in a format of its kind, and for the purpose of financing a multi -use real estate project, which opens the way for projects similar to the use of debt tools in the financial markets, and expands the prospects for financing by providing alternative tools. The release also constitutes a new precedent for the Hassan Allam Group, one of the most ancient institutions in Egypt, with a prominent position in the fields of engineering, construction and infrastructure.
The group’s choice of Al -Ahly Pharos as a consultant to the first proposal of the debt tools in the money market reflects confidence in the capabilities of Al -Ahly Pharos, where the assignment and success of Al -Ahly Pharos is to lead a deal of this size and the details are a testimony of its experience and its established capabilities in providing financial consultations and financing solutions specifically designed to meet the requirements of various projects.
Success in implementing this version highlights the extent of the strength of the debt tools in the money market as an effective tool to advance growth, and emphasizes the vital role it plays as a way to diversify the sources of financing for companies and projects. This version represents an inspiring starting point for the private sector for alternative financing solutions.
The Bab Misr project is a multi -use complex located in the Mohandessin area, and it is set up by Hassan Allam Holding Group on an area of ​​100,000 square meters.
The project includes 17 buildings for commercial, administrative, residential and medical purposes, in addition to pamphlets for parking.
The project is an essential axis in the plan to develop the area surrounding the Upper Egypt train station, which is the latest and largest railway station in the country.
The station contributes to mitigating the roads on the south -heading roads, and is also linked to the third line of the Cairo, Monorall tunnels and the BRT rapid transportation system, which enhances the efficiency of the connection between the various means of transportation.
Ahmed Haider, CEO and Managing Director of Al -Ahly Pharos Group, said: “This version represents a strong evidence of the depth and strength of the advisory platform that we offer in Al -Ahly Pharos, and our strategic vision aimed at leading innovation and expanding the scope of solutions within the Egyptian financial markets, whether in the debt tools (DCM), capital markets (ECM), or merger deals and acquisitions (M & A), and with more companies seeking alternative financing tools, we confirm our firm commitment to leading the development of financial markets tools, in line with the broader vision of the National Bank of Egypt group to provide an integrated and comprehensive platform for financial services.
He added: “I extend my sincere thanks and gratitude to our team for their exceptional effort and unlimited dedication, and I would like to thank Hassan Allam Holding Group for their confidence. I would like on this occasion to thank all the parties that contributed to the success of this version successfully, their efforts and cooperation are great, and it was an essential element in achieving this achievement.”
Haider concluded his statements by saying: “Finally, we extend our sincere thanks and appreciation to the Sharia Committee for helping us in reaching such innovative solutions that are compatible with the provisions of Islamic Sharia, and to the Financial Supervisory Authority for its continuous support and conscious future vision. Their efforts are a pivotal element in expanding the horizons of financial markets in Egypt, and enhancing its continuous growth and development.”
Muhyiddin Abdin, the financial CEO of Hassan Allam Holding Group, said: “The bond issuance process represents an important point in the financial strategy of Hassan Allam Holding Group.
The strong turnout by the leading financial institutions – including the National Bank of Egypt and the Suez Canal Bank as guarantees to cover the subscription in addition to the participation of the Abu Dhabi Commercial Bank, the Industrial Development Bank, and the Bank of the Arab International Banking Company (SAIB) – the confidence of the large financial institutions in our vision. We are proud of our partnership with Al -Ahly Pharos and a strong alliance of consultants and institutions who had a pivotal role in the success of this deal.
In the same context, Amir Sharif, Managing Director and Head of the Religious Tools Sector at Al -Ahly Pharos, said: “This version represents a milestone, not only because it is the first issue of your instruments in our participation form, but as a clear step towards achieving our head to develop the debt tools market in Egypt. Or unconventional. Sukuk is only part of the full image, and this version is only a simple start of our great aspirations towards expanding and deepening the debt tools market in Egypt.
He added: “I feel very proud and gratitude towards the great efforts made by our debt tools team. In only three years, this team was able to complete various publications that are close to 100 billion Egyptian pounds, leaving a strong and permanent imprint in the Egyptian market. This achievement would not have been achieved without their sincerity, and their continuous work to meet the needs of our customers with the highest degree of commitment and professionalism.”
At the end of his speech, he added: “I would like to thank all the parties participating in the deal for their pivotal roles and close cooperation throughout this trip. The efforts made for results calling for pride. Above all, we express our great gratitude to the Hassan Allam Group for their confidence and strategic partnership, and the effort they made to ensure the success of this version, which was a major factor in achieving this achievement. Our sincere appreciation to the General Authority for Financial Supervision for its continuous support, which had a fundamental role in enabling this progress and contributing to the development of Egyptian financial markets. “
The Dhulfar and its partners' office played the legal advisor to the issuance, and the Baker Tele Office (Mohamed Hilal and Wahid Abdel Ghaffar) played the issuance of the issuance accounts, and Meris Al -Sharq Al -Awsat Credit Classification and Investors Service was awarded the credit rating of the issuance and the Consultative Engineers Group as the independent consultant engineer and RSM Misr Financial Consulting as an independent financial advisor.
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