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syndicated loan of Katameya Mall
Banque Misr leads an alliance of 5 banks to provide a syndicated loan of EGP 1.5 billion to finance the first phase of Katameya Mall in New Katameya
Banque Misr has cooperated with four other leading banks in the financial sector to provide financing of up to EGP 1.5 billion to fund part of the investment cost of the Katameya Mall in New Katameya. The Katameya Mall is owned by Marakez El Sokhna for Real Estate Projects – one of the investments of Saudi Al Hokair group in Egypt. The financing is for the first phase of the mall that represents around 70% of the total area for the commercial center. The alliance consists of Banque Misr as an initial mandated lead arranger, bookrunner and facility agent; Arab African International Bank as an initial mandated lead arranger, bookrunner and security agent; Banque du Caire as an initial mandated lead arranger; and the Arab International Bank and Misr Iran Development Bank as arrangers.
The commercial center is to serve the areas of Maadi, Moqattam, Heliopolis, Nasr City and New Cairo. The Katameya Mall is in a strategic location in New Cairo on a total area of around 420,000 sqm with a retail area of 110,000 sqm.
This syndicated loan is considered an important step towards reinforcing Banque Misr’s leading role in encouraging foreign investments in the real estate sector. It is also a continuation of the successes of Banque Misr over the past period in the field of corporate credit and syndicated loans. Banque Misr has won several awards, including the second position in the African continent as a syndicated loans lead arranger and for providing project financing with a market share of 5.5%, according to the banks’ evaluation and classification done by Bloomberg for the first half of 2018; Banque Misr has also achieved third position in terms of marketing syndicated loans and financing projects in the African continent with a market share of 6.8%. Banque Misr has been achieving such advanced positions in these international rankings since 2015. The bank continues to achieve outstanding results in arranging and marketing syndicated loans and in financing projects in the African continent. In addition, Banque Misr has also won the award for “Best Egyptian Bank in arranging syndicated loans and project financing in 2018” from the World Union of Arab Bankers; and the award for “Best Bank in project financing in Africa in 2017” for the third consecutive year from EMEA Finance.
Banque Misr has also won six awards for financing operations in Africa under the categories “Project Finance Awards” and “Achievement Awards” from EMEA Finance for the year 2018, for the bank’s role in arranging and financing projects, in cooperation with other leading banks in the financial sector, covering various sectors, such as fertilizers, petrochemicals, construction material, and telecommunications. This highlights Banque Misr’s leading role in supporting the Egyptian economy in various fields. Banque Misr has also won the award for “Best Egyptian bank in financing mega projects for the year 2019” from the World Union of Arab Bankers.
Winning such awards is a recognition of the bank’s efforts in winning its customers’ trust. Our customers are the constant focus of the bank as they are the bank’s success partners. Banque Misr is always striving to offer new and innovative products and services that satisfy its customers’ needs.
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