Barakat, Maher & Partners in association with Clyde & Co advises Capital for Securitization

  • Press Releases 29 December 2023 29 December 2023
  • Africa

Barakat, Maher & Partners in association with Clyde & Co has advised Capital for Securitization and Bedaya Mortgage Finance Co. (Bedaya) on the EGP 843 million securitization issuance for Bedaya, the first tranche of what is expected to be a total of a four-tranche programme with a value of EGP 3 billion. The Financial Regulation Authority (FRA) approved the issuance on 28 December 2023.

Barakat, Maher & Partners in association with Clyde & Co advises Capital for Securitization

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Bedaya is Egypt’s first non-bank mortgage provider offering digital mortgage financing facilities. Bedaya was founded in 2019 as a joint venture between EFG Hermes, GB Capital, and Talaat Moustafa Group.

The Barakat, Maher & Partners in association with Clyde & Co team was led by partner Mostafa Elsakka who was supported by senior associate Moataz El Sherbini, and associates Walid Enany, Dalya Mahmoud, Rana Ghorab, Omar Mahmoudand Mahmoud Toraya.

CI Capital acted as the financial advisor and the issuance manager.

Managing Partner of Cairo, Mohamed Barakat comments: “It’s been our pleasure to have acted as Bedaya’s legal advisors on this transaction. Mostafa and the team have done an incredible job in closing this transaction in an extremely short period of time, with the same quality and best practice which is becoming a hallmark in the Cairo legal market. This transaction adds to a list of series of transactions that our Cairo office closed during 2023 and is a testament to the steady growing trust of the market in our Cairo Office expertise and capabilities.” 

With over 30 years of experience in the Middle East and Africa (MEA), Clyde & Co is one of the largest international law firms with over 90 partners and over 540 staff operating through 9 offices and associated offices in Abu Dhabi, Cairo, Cape Town, Dar es Salaam, Doha, Dubai, Johannesburg, Nairobi, and Riyadh. Clyde & Co supports international and local organisations throughout the wider region with a full-service offering of local specialists across most business sectors and services of law, including commercial, commercial disputes, corporate, cyber risk, data protection & privacy, employment & immigration, finance, global recoveries, insolvency & reorganisation, intellectual property, international arbitration, projects & construction, real estate, regulatory & investigations, and technology, outsourcing & data.

Learn more about Clyde & Co in Egypt