Arab Finance: Emirates NBD Egypt has contributed $40 million in financing for ADD Properties as part of a $265 million syndicated financing package, according to an emailed press release.

The facility backs the company’s long-term growth strategy and the expansion of its hospitality portfolio, anchored by the development of a new Grand Hyatt hotel in West Cairo.

Emirates NBD Egypt also acted as the mandated lead arranger (MLA), global facility agent and onshore account bank. DenizBank AG, a subsidiary of Emirates NBD Group, served as the offshore security agent.

Another four institutions participated in the financing package, including the European Bank for Reconstruction and Development (EBRD), which provided $127.5 million as the initial lead arranger and bookrunner. The International Finance Corporation (IFC) extended $60 million under the mutual reliance framework, while the National Bank of Egypt (NBE) provided $37.5 million.

NBE is also acting as the MLA, local facility agent and onshore security agent, as well as the Onshore Account Bank. EFG Hermes was the financial advisor and bookrunner on the transaction.

Amr El Shafei, CEO and Managing Director of Emirates NBD Egypt, commented: “This participation also aligns with the national vision for developing the areas surrounding the Grand Egyptian Museum and positioning them as a global destination for tourism and investment.

“Our collaboration with the EBRD, IFC, and NBE also highlights the importance of strong banking partnerships in mobilizing international financing and supporting high-quality investments.”