12th of July 2021
Sharkawy & Sarhan advise on Egypt’s first regulated Green Bonds’ Issuance
Keywords: Financial Institutions, Banking & Finance
S&S advises International Financial Corporation (IFC) on its potential subscription in Egypt’s first regulated green bonds’ issuance by the Commercial International Bank (CIB). IFC will subscribe in the full issuance through a private placement which is valued at USD 100 million. The proceeds of the bonds will be used to fund a portfolio of green loans extended by CIB to its corporate as well as medium and small-enterprise clients in addition to funding CIB’s green building capital expenditure for up to 20% of the proceeds.
The team working on this transaction was led by partner Ahmed Haggag, managing associate Esraa Abdelmoniem , and associate Youmna Fahmy.
Green Bonds’ Issuance in Egypt
The Finance Ministry has issued Egypt’s first sovereign green bonds amounting to USD 750 million last September. CIB’s issuance of green bonds through a regulated private placement by the financial regulatory authority (the FRA), is another milestone in Egypt’s efforts to promote and encourage green projects. It is expected that several private green bonds’ issuances will follow.
S&S advises International Financial Corporation (IFC) on its potential subscription in Egypt’s first regulated green bonds’ issuance by the Commercial International Bank (CIB). IFC will subscribe in the full issuance through a private placement which is valued at USD 100 million. The proceeds of the bonds will be used to fund a portfolio of green loans extended by CIB to its corporate as well as medium and small-enterprise clients in addition to funding CIB’s green building capital expenditure for up to 20% of the proceeds.
The team working on this transaction was led by partner Ahmed Haggag, managing associate Esraa Abdelmoniem , and associate Youmna Fahmy.
Green Bonds’ Issuance in Egypt
The Finance Ministry has issued Egypt’s first sovereign green bonds amounting to USD 750 million last September. CIB’s issuance of green bonds through a regulated private placement by the financial regulatory authority (the FRA), is another milestone in Egypt’s efforts to promote and encourage green projects. It is expected that several private green bonds’ issuances will follow.
S&S advises on Egypt’s first regulated Green Bonds’ Issuance
12th of July 2021
Keywords: Financial Institutions, Banking & Finance
S&S advises International Financial Corporation (IFC) on its potential subscription in Egypt’s first regulated green bonds’ issuance by the Commercial International Bank (CIB). IFC will subscribe in the full issuance through a private placement which is valued at USD 100 million. The proceeds of the bonds will be used to fund a portfolio of green loans extended by CIB to its corporate as well as medium and small-enterprise clients in addition to funding CIB’s green building capital expenditure for up to 20% of the proceeds.
The team working on this transaction was led by partner Ahmed Haggag, managing associate Esraa Abdelmoniem , and associate Youmna Fahmy.
Green Bonds’ Issuance in Egypt
The Finance Ministry has issued Egypt’s first sovereign green bonds amounting to USD 750 million last September. CIB’s issuance of green bonds through a regulated private placement by the financial regulatory authority (the FRA), is another milestone in Egypt’s efforts to promote and encourage green projects. It is expected that several private green bonds’ issuances will follow.
S&S advises International Financial Corporation (IFC) on its potential subscription in Egypt’s first regulated green bonds’ issuance by the Commercial International Bank (CIB). IFC will subscribe in the full issuance through a private placement which is valued at USD 100 million. The proceeds of the bonds will be used to fund a portfolio of green loans extended by CIB to its corporate as well as medium and small-enterprise clients in addition to funding CIB’s green building capital expenditure for up to 20% of the proceeds.
The team working on this transaction was led by partner Ahmed Haggag, managing associate Esraa Abdelmoniem , and associate Youmna Fahmy.
Green Bonds’ Issuance in Egypt
The Finance Ministry has issued Egypt’s first sovereign green bonds amounting to USD 750 million last September. CIB’s issuance of green bonds through a regulated private placement by the financial regulatory authority (the FRA), is another milestone in Egypt’s efforts to promote and encourage green projects. It is expected that several private green bonds’ issuances will follow.
Key Contacts
Ahmed Haggag
PARTNER
Esraa Abdelmoniem
MANAGING ASSOCIATE
