MBH Advises Banking Syndicate on EGP 5.2 Billion Islamic Financing for Inertia Developments

"Matouk Bassiouny & Hennawy (MBH) advised a syndicate of Egyptian banks led by Banque Misr on an EGP 5.2 billion Islamic Mudarabah financing facility to Inertia Developments. The up-to-six-year package supports the Jefaira – Ras El-Hekma urban development. ECG acted as engineering advisor and Baker Tilly (Wahid AbdelGhaffar & Co) served as auditor."

Matouk Bassiouny & Hennawy (MBH) advised a syndicate of Egyptian banks — led by Banque Misr and including Banque du Caire, National Bank of Egypt, Housing and Development Bank and Suez Canal Bank — in connection with an EGP 5.2 billion Islamic Mudarabah financing facility to Inertia Developments. The syndicate has provided a financing package with a term of up to six years to support the development of Inertia’s Jefaira – Ras El-Hekma project, an integrated urban development located on a 2.7 million square metre site. Engineering Consulting Group (ECG) acted as the engineering advisor on the transaction, while Baker Tilly (Wahid AbdelGhaffar & Co) served as the auditor. Matouk Bassiouny & Hennawy represented the syndicate of Egyptian banks with a team composed by: Mahmoud Bassiouny (regional managing partner and group head of projects & finance), Iman Nassar (senior associate), Sherouk Haiba (associate).

MBH Advises Banking Syndicate on EGP 5.2 Billion Islamic Financing for Inertia Developments

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