ZH acts as local counsel to the dealers and arrangers on Egypt’s third issuance under the Sovereign Sukuk Programme

We are proud to have advised on Egypt’s USD 1.5 billion dual-tranche Sovereign Sukuk, marking the third issuance of Egypt’s Sovereign Sukuk. In collaboration with Linklaters LLP, London, acting as English legal advisors, Zaki Hashem, Attorneys at Law, represented the dealers and arrangers, which included Abu Dhabi Islamic Bank PJSC, Citigroup Global Markets Limited, Dubai Islamic Bank PJSC, First Abu Dhabi Bank PJSC, and HSBC Bank plc.

Our Firm has been advising the dealers and arrangers on all bond and sukuk issuances under the Ministry of Finance’s GMTN Programme (established in 2014) and the Sukuk Programme (established in 2023).

This transaction was led by Ragia Omran, Of Counsel, supported by Khalid Al Melegi, Senior Associate, and Associates Iten Osama and Youssef Hendy.

On the issuer’s side, Baker Botts (UK) LLP acted as international counsel, alongside ADSERO – Ragy Soliman & Partners as local counsel to the Egyptian Ministry of Finance and the Egyptian Financial Company for Sovereign Taskeek. Adsero’s team was led by Hossam Gramon, Partner, assisted by Karima Seyam, Senior Associate, and Junior Associates Malak Zaki, Mostafa Serry, Nour Osama, and Nour Elkholy.