Baker McKenzie advised Al Sharkiyah Sugar Manufacturing Company (Al-Nouran) as borrower in connection with the restructuring and top up of a senior Islamic Istisn’a facility and working capital facility to finance the operations of its beet sugar factory in Al Sharqia Governorate of Egypt. The financing was provided by a banking consortium led by Banque Misr.
Leading international law firm Baker McKenzie has been voted “Corporate Team of the Year” and “Infrastructure and Energy Projects Team of the Year” at The Middle East Legal Awards 2019 hosted by Legal Week and the Association of Corporate Counsel in Dubai on 18 April 2019.
Baker McKenzie Cairo’s Banking & Finance team advised a six-bank consortium led by National Bank of Egypt on a USD 100 million and EGP 1.2 million multi-currency bridge facility to Canal Sugar Company to finance the construction and operation of a beet sugar plant and large scale agricultural farm in West Minya.
- Tenfold increase in Chinese policy lending into MENA from 2015 to 2016
- UAE was the top target country for lending in MENA
- Sub-Saharan Africa has seen the vast majority of lending into MEA since 2014
- Power projects attracted most of the financing