ZH advises the lenders in the USD 827 million refinancing of EGPC facility agreement

We are pleased to announce that we have acted as local legal counsel for the lenders in relation to the refinancing of the EGPC facility agreement of ca. USD 827 Million. The refinancing took place through an amendment and restatement of a local bilateral facility agreement between the National Bank of Egypt (as lender) and the Egyptian General Petroleum Corporation (as borrower) by way of syndication. Mashreq Bank PSC and the National Bank of Egypt(NBE) are acting as underwriters and coordinators, and together with First Abu Dhabi Bank are also initial mandated lead arrangers and bookrunners - with NBE being the agent bank, and all three as original lenders.

The transaction was completed on 29 December 2022. Mr. Sameh Khodeir, Senior Partner, and Ms. Heba El Naggar, Partner, were the lead advisors from ZH (the local counsel) and Norton Rose Fulbright acted as international counsel to the lenders.