Zulficar and Partners Law Firm is delighted to announce that we have advised Badr University in Assuit (“BUA”/ the “Assignor”) – one of CIRA’s flagship universities – in the Issuance of the First Standalone Future Securitization Bonds for a private university in Egypt amounting to EGP 500,000,000 for the purpose of financing the Assignor’s capital expansion (the “Transaction”).
This landmark Transaction is a significant milestone, towards extending financial inclusion, while unlocking the potential of financing private universities in Egypt and increasing capital market flows towards financing the higher education sector.
We are very delighted to reach the closing of this landmark transaction after almost a year of negotiations and navigating complex legal, financial and technical challenges.
EFG Hermes acted as the sole financial advisor, transaction manager, book-runner, issue promoter, underwriter, and arranger for this issuance. The transaction’s key partners include Suez Canal Bank as the subscription bank as well as an underwriter along with Al Baraka Bank was an underwriter, Abu Dhabi Commercial Bank participated in the subscription process, while Ahli United Bank acted as the custodian and PricewaterhouseCoopers acted as the auditor.
Z&P team assisting on the transaction was led by Ashraf Ihab, Anwar Zeidan – Head of Capital Market and Procedures Group, Alyaa Rabea – Former Senior Associate, Ahmed Fares – Senior Associate and Mohamed Ramadan – Associate in the Firms’ Procedures Group.
Congratulations to all the Transaction parties for the successful closing of the Transaction.
