In a proactive year of transactional activity, EFG Hermes was involved in some of the most prominent real estate advisory mandates in Egypt.
In arguably its most significant engagement, EFG Hermes helped Orascom Development Egypt secure an E£6 billion ($122 million) syndicated loan for its O West mixed-use project near Cairo. This 10-year loan is intended to expedite construction efforts, refinancing the project’s bridge facility while propelling its development cycle forward.
In the structured finance space, the bank facilitated Bedaya Mortgage Finance’s second securitization issuance worth E£958 million. This offering is part of the client’s E£3 billion securitization programme and builds on a previous issuance in 2022 which was the first of its kind for a real estate mortgage company in the country. The bond comprises six tranches with yields that vary from fixed to variable, ranging between E£15.6 million and E£453 million.
The firm also advised Palm Hills Developments on two notable transactions. The first, valued at E£421 million, was part of a larger E£5 billion programme, with tranches varying from E£50.52