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Banque Misr, BM Lease sign EGP 700M Islamic facility

Banque Misr, BM Lease sign EGP 700M Islamic facility

ArabFinance: Banque Misr and BM Lease signed a medium-term Islamic financing partnership contract worth EGP 700 million, Al Mal News reported.

The new loan will be allocated to finance a lease contract for Bonyan for Development and Trade Company.

Panther Associates Company acted as the financial advisor and general coordinator of Bonyan’s financing.

Banque Misr’s share in the seven-year partnership is 93%, equivalent to EGP 650 million, and BM Leasing’s share in the partnership is 7%, equivalent to EGP 50 million,  

The loan will be allocated for finishing the remaining stages of the WOC Walk of Cairo project and Paying Bonyan Company's obligations.

 

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