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Banque Misr Leads a Consortium to Arrange EGP 1.255 Billion Loan for Financing Cairo 3A Poultry Project for the Establishment and Operation of Poultry Production Farms in Giza Governorate
Banque Misr recently led a banking consortium as the lead arranger, underwriter, marketer, finance agent and guarantee agent for arranging a long-term loan in the amount of EGP 1.255 billion to finance part of the investment cost of the "Cairo 3A Poultry" project, which involves the establishment and operation of farms for the production of poultry in Giza Governorate; with 14 farms for the production of fattening poultry and 9 farms for the production of pullet chickens, in addition to a hatchery plant at a total investment amounting to EGP 1.9 billion. The consortium included "Banque du Caire" and " Qatar National Al-Ahli Bank " as the first main arrangers, in cooperation with Dr. Zaki Hashem and Partners in its capacity as the banks' legal advisor and Al Tamimi & Company as the legal advisor to Cairo 3A Poultry.
The "Cairo 3A Poultry" project is considered one of the national projects in Egypt, which Banque Misr pays great attention to, given that the poultry sector is considered one of the main pillars for achieving Egyptian food security, in addition to the fact that this sector is one of the most important sources of agricultural income in Egypt.
Mr. Akef El Maghraby, Vice Chairman of Banque Misr, confirmed the Bank's keenness on providing the necessary funds for major national projects in order to enhance the state's capabilities to achieve increased local production. The arrangement of this loan underscores the pioneering role played by Banque Misr in effectively partaking in the economic development of the country, by supporting the local national economy to accelerate development and support the Egyptian economy in various fields .
Worth noting is that Banque Misr completed - during the period from 1/7/2019 to 30/6/2020 - the arrangement, financing and participation in nearly 9 financing operations , totaling some EGP 81 billion, at a participation share of about EGP 32 billion. Banque Misr also attained various global accolades and rankings that confirm its outstanding performance and strong financial results. This comes as a continuation of the intensive marketing plans Banque Misr pursues for attracting new clients and financing operations, coupled with the Bank's commitment to implementing its strategic and development objectives with the aim of supporting the national economy in various fields and sectors. Banque Misr won first place in the Egyptian banking market for arranging and marketing joint loans for the year 2019 according to Bloomberg International Foundation, which is specialized in the field of finance and banking, after it completed 13 joint venture financing deals at a total value of EGP 22.725 billion, in which Banque Misr acted as the main arranger. This is in addition to completing 12 financing deals, with a total value of about EGP 26.275 billion, in which the Bank played the role of the financing marketer out of the total financing operations carried out by the 20 largest banks in Africa. According to the list of joint loans for the year 2019, the Bloomberg Foundation announced that Banque Misr was ranked fifth as the best financial marketer and sixth as primary arranger for syndicated loans across the African continent, amongst other global banks on the list. The Bank also ranked fifteenth as the best financial marketer for the Middle East and North Africa region.
Banque Misr's attainment of these awards is considered a certificate of entitlement to the confidence of its customers, who are partners of success in all business activities. It is also an assertion of the Bank's pioneering role and continuous ability to achieve strong performance levels, while maintaining all necessary components for continued growth. Banque Misr always strives to provide all that is new in services and products to meet the needs of its valued customers.