EFG Hermes successfully concludes advisory on Orascom Development Egypt’s flagship project “O West” EGP1.5bln financing

EFG Hermes successfully concludes advisory on Orascom Development Egypt’s flagship project “O West” EGP1.5bln financing

Transaction Highlights and background:

- This transaction reinforces the leadership position of EFG Hermes advisory franchise in the real estate sector across debt, equity raising and M&A transactions

- The transaction comes after less than two years since arranging for ODE a USD265 million multi-currency term loan

- In 2022, EFG Hermes concluded advisory on Bedaya Mortgage Finance’s first securitization issuance worth EGP 651.2 million, marking the first-ever securitization issuance for a real estate mortgage company in Egypt

- Prior to this, EFG Hermes arranged and financed for MNHD an EGP750 million financing for MNHD as well as EGP300 million securitization issuance, Egypt’s debut Sukuk issuance for TMG, and an EGP 600 million with LMD Visionary Real Estate Development Company to finance its all-in-one leisure and business complex 3’Sixty

- In 2021, EFG Hermes successfully advised on a series of securitization transactions for leading real estate developers namely for TMG, MNHD, SODIC, Misr Italia Properties, Pioneers Properties, amongst other transaction. Additionally, it has concluded advisory for SODIC – a premier real estate developer in Egypt – on the sale of 85.5% of its EGX-listed shares through an MTO to a consortium comprised of UAE’s Aldar Properties and ADQ in a deal worth c. USD 388