Arab Finance: EFG Hermes, a subsidiary of EFG Holding, has acted as the sole financial advisor and bookrunner on a landmark $265 million syndicated financing package for ADD Properties, a member of Sami Saad Holding, according to an emailed press release.

The multi-tranche financing marks one of the largest foreign-led debt facilities executed in Egypt's hospitality and tourism sector in recent years. It gathered a syndicate of international development finance institutions alongside regional and local commercial banks.

The European Bank for Reconstruction and Development (EBRD) served as the initial mandated lead arranger and bookrunner, with the International Finance Corporation (IFC) acting as mandated lead arranger. They were joined by Emirates NBD Egypt, which acted as mandated lead arranger and global facility agent, and the National Bank of Egypt (NBE), which was the lead arranger and local facility agent.

The transaction aims to support ADD Properties’ growth and expansion plans across key cultural and resort destinations in Egypt, including the greenfield development of the flagship Grand Hyatt hotel project. The hotel will feature more than 400 rooms overlooking the Grand Egyptian Museum and the Giza Pyramids.

Additionally, part of the package will be allocated to refinancing existing hospitality-related debt to optimize the group's capital structure.

Maged El Ayouti, Co-Head of Investment Banking at EFG Hermes, commented: “This transaction reflects our strong belief in tourism as a cornerstone of Egypt’s economic future and our commitment to supporting corporates driving its growth.”

“It also directly supports the enhancement of Egypt’s cultural and resort tourism infrastructure through the development of a flagship hotel overlooking the Grand Egyptian Museum and further investment in established Red Sea hospitality destinations, while reinforcing EFG Hermes’ position as a leading financial advisor for complex financing transactions across the region.”