Latest news with #AmrElGanainy
Zawya
22-07-2025
- Business
- Zawya
Egypt: CIB completes fifth securitisation issuance for B.TECH worth EGP $17.43mln
Egypt - Commercial International Bank (CIB) – Egypt, the country's largest private-sector bank, has successfully completed the fifth issuance under securitisation programme, with a total value of EGP 859.4m. CIB acted as the exclusive financial advisor, lead arranger, issuance manager, promoter, and coverage underwriter for the transaction. The issuance was divided into two tranches: the first with a maturity of nine months and the second with a maturity of eleven months. Both tranches received a 'P1' credit rating from Middle East Rating & Investors Service (MERIS), supported by the strength of the underlying receivables portfolio, along with comprehensive guarantees and credit enhancements provided to bondholders. This transaction forms part of a two-year securitisation programme with a total value of EGP 5bn. It attracted significant investor interest, reflecting robust market confidence in the issuer, and the execution team. Amr El-Ganainy, Deputy CEO and Managing Director of CIB, commented: 'CIB is proud to lead this successful transaction, which contributes to supporting and expanding the consumer finance sector in Egypt. This issuance marks another milestone that confirms strength and its prominent position in the Egyptian market, while also highlighting CIB's ability to offer comprehensive financial solutions.' Omar El-Husseiny, CEO of Global Markets at CIB, added: 'This deal crowns CIB's accumulated expertise in debt structuring and financial advisory, along with its competitive edge in underwriting, reaffirming the bank's role as a trusted financial advisor and partner in the Egyptian market.' Heba Abdel Latif, Head of Financial Institutions at CIB, noted: 'This collaboration reflects the bank's commitment to supporting companies operating in the non-banking sector, thereby contributing to economic growth and offering sustainable financing solutions that address market needs.' Gehan El-Segini, Head of Debt Capital Markets at CIB, emphasised: 'The success of this issuance reflects CIB's commitment to providing innovative financing instruments aligned with client ambitions, and it reinforces the growing trust places in its ongoing partnership with CIB.' CIB subscribed to the issuance alongside several investment funds managed by CI Asset Management and Arab African Investment Management. Law firm Matouk Bassiouny & Hennawy served as legal advisor to the transaction, while Baker Tilly acted as the certified financial auditor. This latest issuance aligns with CIB's strategy to deliver advanced financial solutions that foster market growth and stimulate investment in key sectors, particularly the consumer finance sector.
Daily News Egypt
07-05-2025
- Business
- Daily News Egypt
CIB Egypt extends EGP 2.45bn bridge loan to SODIC for North Coast ‘June' project
Commercial International Bank (CIB) Egypt has signed an EGP 2.45bn bridge loan agreement with Sixth of October Development and Investment Company (SODIC), a leading real estate developer in Egypt. The facility is designated to finance construction work on SODIC's flagship 'June' project, located in the prime Ras El Hekma area along Egypt's North Coast. This bridge loan constitutes the initial phase of the project's broader financing strategy, which will include a full funding model to support development costs and related expenditures. The goal is to fast-track project implementation, with unit handovers expected to begin in the second half of 2025. Spanning 280 feddans, 'June' is a high-end coastal development that will feature a mix of residential villas, hotel-serviced apartments, a seafront promenade, and a beach club. The project will also host a Tribute Portfolio hotel, a brand under Marriott International, reinforcing its appeal as a luxury destination. Amr El Ganainy, Deputy CEO and Executive Board Member of CIB, stated: 'We are proud to collaborate with SODIC, one of Egypt's foremost real estate developers. This bridge loan represents the first step in financing the June project, and aligns with our strategic focus on supporting high-caliber real estate initiatives. Our partnership with SODIC reflects a shared commitment to delivering quality developments that contribute to the sector's growth.' Ayman Amer, General Manager of SODIC, commented: 'This facility agreement with CIB, one of Egypt's most prominent financial institutions, underscores our strong financial fundamentals and the trust we've cultivated with our banking partners. It also affirms SODIC's credibility in meeting its commitments. We look forward to continued cooperation with CIB as we expand our footprint and drive future growth.' The collaboration between CIB and SODIC is expected to play a key role in shaping the next phase of high-end real estate development on Egypt's North Coast, particularly in the fast-rising Ras El Hekma area, which has seen significant investor interest.
Zawya
17-02-2025
- Business
- Zawya
Arkan Palm, CIB partner to develop 16,000 sqm headquarters in Sheikh Zayed's Financial District
Egypt - Arkan Palm for Real Estate Development, a subsidiary of Badr El Din Group, has signed an agreement with Commercial International Bank (CIB) to allocate 16,000 square meters in the Financial District of Project 205 in Sheikh Zayed for the bank's new headquarters. The signing ceremony was attended by Walid Abbas, First Vice President of the New Urban Communities Authority (NUCA); Amr El Ganainy, CIB's Executive Vice President and Board Member; Mamdouh Badr El Din, Chairman of Badr El Din Companies; and Amr Badr El Din, Managing Director of Arkan Palm. Project 205: A Landmark Development in West Cairo Project 205 is a strategic partnership between NUCA and Arkan Palm, spanning 205 feddans in Sheikh Zayed. Designed as a fully integrated urban development, it features residential, commercial, administrative, hospitality, and entertainment components. Walid Abbas highlighted Project 205 as a successful public-private collaboration, delivering high-value real estate offerings that enhance the market. He reaffirmed NUCA's commitment to partnering with experienced developers like Arkan Palm to ensure high-quality projects. CIB's Strategic Expansion in Project 205 Amr El Ganainy expressed CIB's enthusiasm for securing a prime location within Project 205—one of West Cairo's most prestigious developments. He emphasized that CIB prioritizes exceptional locations for expansion, and Arkan Palm's reputation for quality and reliability played a significant role in the bank's decision to establish its headquarters there. A Vision for an Integrated Financial Hub Mamdouh Badr El Din described Project 205 as an innovative addition to Egypt's real estate market, offering a holistic lifestyle beyond residential spaces—including banks, clinics, corporate offices, and entertainment zones. He emphasized the project's focus on quality, integration, and sustainability. Amr Badr El Din reaffirmed Arkan Palm's commitment to partnering with leading institutions to deliver top-tier services within West Cairo's largest downtown. He confirmed that CIB's headquarters will be part of a growing cluster of major financial institutions in Project 205's Financial District, which is set to become the region's premier hub for banking and financial services.
Daily News Egypt
15-02-2025
- Business
- Daily News Egypt
Arkan Palm, CIB partner to develop 16,000 sqm headquarters in Sheikh Zayed's Financial District
Arkan Palm for Real Estate Development, a subsidiary of Badr El Din Group, has signed an agreement with Commercial International Bank (CIB) to allocate 16,000 square meters in the Financial District of Project 205 in Sheikh Zayed for the bank's new headquarters. The signing ceremony was attended by Walid Abbas, First Vice President of the New Urban Communities Authority (NUCA); Amr El Ganainy, CIB's Executive Vice President and Board Member; Mamdouh Badr El Din, Chairman of Badr El Din Companies; and Amr Badr El Din, Managing Director of Arkan Palm. Project 205: A Landmark Development in West Cairo Project 205 is a strategic partnership between NUCA and Arkan Palm, spanning 205 feddans in Sheikh Zayed. Designed as a fully integrated urban development, it features residential, commercial, administrative, hospitality, and entertainment components. Walid Abbas highlighted Project 205 as a successful public-private collaboration, delivering high-value real estate offerings that enhance the market. He reaffirmed NUCA's commitment to partnering with experienced developers like Arkan Palm to ensure high-quality projects. CIB's Strategic Expansion in Project 205 Amr El Ganainy expressed CIB's enthusiasm for securing a prime location within Project 205—one of West Cairo's most prestigious developments. He emphasized that CIB prioritizes exceptional locations for expansion, and Arkan Palm's reputation for quality and reliability played a significant role in the bank's decision to establish its headquarters there. A Vision for an Integrated Financial Hub Mamdouh Badr El Din described Project 205 as an innovative addition to Egypt's real estate market, offering a holistic lifestyle beyond residential spaces—including banks, clinics, corporate offices, and entertainment zones. He emphasized the project's focus on quality, integration, and sustainability. Amr Badr El Din reaffirmed Arkan Palm's commitment to partnering with leading institutions to deliver top-tier services within West Cairo's largest downtown. He confirmed that CIB's headquarters will be part of a growing cluster of major financial institutions in Project 205's Financial District, which is set to become the region's premier hub for banking and financial services.
