Helmy, Hamza & Partners, Baker McKenzie Cairo office, has acted as transaction counsel for Banque du Caire S.A.E. as the agent on behalf of a group of lenders in securing a USD 75 million syndicated medium-term loan facility for Cheiron Egypt Delta Limited, a subsidiary of Egypt-based exploration and production company Cheiron Petroleum Corporation. The loan will finance up to 45.5% of the investment costs associated with the development works for the West Burullus area, part of a concession agreement for gas and crude oil exploration and exploitation in Egypt.
The syndicate of banks participating in this deal includes Banque du Caire, Al Baraka Bank Egypt, Arab International Bank and Arab International Bank and Societe Arabe Internationale de Banque (SAIB).
The transaction was successfully completed on 30 January 2025.
Leading on the transaction, Ghada El Gharib, Counsel in the Banking and Projects practice at Helmy, Hamza & Partners remarked: "This milestone transaction is the first of its kind in the Egyptian market, marking a significant achievement in financing for the energy sector. We are proud to have supported on this groundbreaking deal, which not only fuels Cheiron's continued growth but also highlights the continuously growing investor confidence in Egypt's oil and gas sector."
The Cairo team at Baker McKenzie included Lamyaa Gadelhak, Ghada ElGharib, Mostafa Lotayef, Victoria Long, Ahmed Shehata and Hania Meshref.
This transaction marks another milestone for Baker McKenzie's Cairo office, building on the Firm's recent success as transaction counsel in the initial public offering (IPO) of United Bank on the EGX (Egyptian Exchange), a key deal in the Egypt's capital markets.