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AAIB first private bank in Egypt to promote syndicated loans on MENA level: Bloomberg - Daily News Egypt

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AAIB first private bank in Egypt to promote syndicated loans on MENA level: Bloomberg

Bloomberg ranks the best investment banks in over 200 countries, dealing with approximately 100 different currencies


Arab African International Bank (AAIB) is the first private bank in Egypt in the field of promoting syndicated loans in the Middle East and North Africa (MENA), as indicated by Bloomberg’s list, Global Syndicated Loans-League Tables.

According to a press release from the bank, AAIB was ranked  second in Africa as a lead arranger of syndicated loans in the first nine months of 2015. Bloomberg ranks banks according to their market shares in syndicated loans, in addition to the number of syndicated loans they arranged and promoted.

Bloomberg ranks the best investment banks in over 200 countries, dealing with approximately 100 different currencies.

According to AAIB Vice Chairman and Managing Director Hassan Abdallah, the bank played a vital role in funding major projects in Egypt and Africa. Moreover, its leadership in the field of investment banking and funding companies has taken root over the past 50 years, Abdallah continued.

He added that the bank’s role is not limited to funding syndicated loans; it provides services of financial consultancy as well.

He explained that the bank acted as a financial consultant for a number of syndicated loans; it was the only financial consultant for Palm Hills Developments when it decided to increase its capital twice, in 2014 and 2015.

According to Abdallah, the bank issued, arranged, promoted, and covered the first group of the bonds issued by Golden Pyramids Plaza. The bonds were worth $280m.

In the field of securitisation bonds, the bank arranged, promoted, and guaranteed the coverage of three issuances for Tharwa Securitization Company, with a value of EGP 1.5bn.

AAIB acted as the lead arranger of the loan granted to Suez Canal Authority to fund part of the cost of the New Suez Canal project, in cooperation with a group of banks.

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https://dailyfeed.dailynewsegypt.com/2016/02/06/aaib-first-private-bank-in-egypt-to-promote-syndicated-loans-on-mena-level-bloomberg/
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