The Commercial International Bank announced the completion of the seventh edition of the Reconstruction Company’s bonds for 20 billion pounds, supported by a financial rights portfolio owned by the New Urban Communities Authority, to complete the infrastructure in the cities of the fourth generation. This announcement was made in collaboration with the National Bank of Egypt.
Offering these bonds to fund the building of fourth-generation cities, such as the new administrative capital and the new city of El Alamein, benefits the New Urban Communities Authority.
Since its beginning, this version has been the largest on the Egyptian market. These bonds were offered in five stages, with the first section receiving 1 billion pounds, the second receiving 2 billion pounds, the third receiving 3 billion pounds, and the fifth receiving 6 billion pounds.
6 billion pounds for the fourth segment, and 5. 7 billion pounds for the fifth segment, with deadlines of up to one year, 3 years, 5 years, 7 years, and 9 years, respectively.
He saw a strong investor turnout because it was successfully covered 2.5 times.
In collaboration with the National Bank of Egypt, the Commercial Bank took on the responsibilities of the Secretary of Conservation and the Receipt, as well as serving as the overall coordinator, financial adviser, director of issuance, coverage security, and subscription promoter.
There are numerous banks, including Wafa Bank Egypt, Faisal Islamic Bank, Abu Dhabi Commercial Bank, Qatar National Bank, Al-Ahly Bank, Housing Bank, Al-Ahly Bank, Arab Investment Bank, and Mid Bank.
Al -Darini and Partners Office of Legal Consultations played the legal advisor to the proposal. Legal accountants and advisors from Hazem Hassan’s office served as the issuing accounts.
The International Commercial reports that the biggest swarm in Egypt, worth 20 billion pounds, has been completed.
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