EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that it acted as the Sole Financial Advisor and Bookrunner on a landmark USD 265 million syndicated financing package for ADD Properties, a member of Sami Saad Holding. The transaction represents one of the largest foreign-led debt financing facilities executed in Egypt’s hospitality and tourism sector in recent years, supporting the continued growth of the country’s hospitality and tourism sector.
The multi-tranche financing package brings together a syndicate of international development finance institutions alongside leading regional and domestic commercial banks. The European Bank for Reconstruction and Development (EBRD) served as Initial Mandated Lead Arranger and Bookrunner, with the International Finance Corporation (IFC) acting as Mandated Lead Arranger. They are joined by Emirates NBD Egypt, which acted as Mandated Lead Arranger and Global Facility Agent, and the National Bank of Egypt (NBE), which acted as Mandated Lead Arranger and Local Facility Agent. The active participation of two leading development finance institutions alongside major commercial lenders highlights international lender confidence in Egypt's tourism fundamentals and underscores EFG Hermes' capabilities in structuring and coordinating complex, multi-tranche financing arrangements involving international and domestic financial institutions.
The USD 265 million financing package is strategically structured to support ADD Properties’ growth across key cultural and resort destinations in Egypt. A core component of the capital package will finance the greenfield development of the flagship Grand Hyatt hotel project, featuring over 400 rooms overlooking the iconic Grand Egyptian Museum and the Giza Pyramids in West Cairo. Furthermore, the package supports the strategic acquisition of hotel assets associated with Hyatt Regency Cairo West and Hyatt Centric Cairo West, while funding refurbishment and capital expenditure across the group's existing hospitality portfolio in Hurghada. The transaction also includes the refinancing of existing hospitality-related debt to optimize the group's capital structure.
Maged El Ayouti, Co-Head of Investment Banking at EFG Hermes, commented: “We are proud to have served as the Sole Financial Advisor and Bookrunner for ADD Properties on this milestone transaction, which underscores the compelling growth dynamics and international lender confidence in Egypt’s tourism and hospitality sector. The USD 265 million syndicated financing package involving the EBRD and IFC alongside major commercial lenders Emirates NBD Egypt and NBE demonstrates EFG Hermes’ ability to structure and execute sophisticated, multi-tranche financing solutions tailored to our clients' strategic objectives. This transaction reflects our strong belief in tourism as a cornerstone of Egypt’s economic future and our commitment to supporting corporates driving its growth. It also directly supports the enhancement of Egypt’s cultural and resort tourism infrastructure through the development of a flagship hotel overlooking the Grand Egyptian Museum and further investment in established Red Sea hospitality destinations, while reinforcing EFG Hermes’ position as a leading financial advisor for complex financing transactions across the region.”
The successful arrangement of this facility demonstrates the vital role of investment banking advisory in connecting leading regional corporates with international development finance institutions and commercial lenders. By mobilizing international and domestic financing to support investment in Egypt's hospitality infrastructure, the transaction is expected to advance ADD Properties’ corporate strategy while supporting national economic development and tourism expansion.