ICEC

Bank Audi Egypt wins two EMEA Finance awards

Bank Audi SAE, the Egyptian arm of Lebanon’s Bank Audi, has won two prizes from EMEA Finance; “The Best Project Finance Deal” in Europe, the Middle East, and Africa, as well as “The Best Infrastructure Finance Deal” in Africa for 2016.

Mohamed Sabry Adly, Head of Large Corporate, Syndicated Loans, and Structured Finance at Bank Audi, and Salma Abu El Ezz, Head of Syndicated Loans at Bank Audi, received the two awards during EMEA Finance’s annual event took place in London last June.

On such occasion, Mohamed Abbass Fayed, Bank Audi Egypt’s chief executive, said the two prestigious prizes highly signify the bank’s pioneering experience in  project finance area and arranging syndicated loans, where both  are considered among the key pillars for the bank’s desired growth.

Fayed further highlighted that Bank Audi Egypt had received the two awards for a joint financing deal with the initial mandated lead arranger and facility agent Banque Misr in addition to other five banks, designed to grant Arab Contractors Company 1.6 billion Egyptian pounds. The money aimed to finance the digging of three tunnels under Suez Canal for cars and railway in South Port Said area.

The project is being constructed by the Arab Contractors in cooperation with Orascom Construction in favor of the Armed Forces Engineering Authority – Military Engineering Department.

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