Zaki Hashem, Attorneys At Law Advised Dealers And Arrangers On Egypt’s USD 1.5 Billion Sovereign Sukuk

Zaki Hashem, Attorneys at Law advised dealers and arrangers on Egypt’s USD 1.5 Billion Sovereign Sukuk

Zaki Hashem, Attorneys at Law acted as legal counsel to the dealers and arrangers on Egypt’s USD 1.5 billion dual-tranche Sovereign Sukuk, marking the third issuance of Egypt’s Sovereign Sukuk. The transaction was completed in collaboration with Linklaters LLP, London, acting as English legal advisors. The dealers and arrangers included ADIB - Abu Dhabi Islamic Bank PJSC, Citi Global Markets Limited, DIB Dubai Islamic Bank PJSC, First Abu Dhabi Bank (FAB) PJSC, and HSBC Bank plc.

Zaki Hashem, Attorneys at Law has been advising the dealers and arrangers on all bond and sukuk issuances under the Ministry of Finance, Egypt’s GMTN Programme (established in 2014) and the Sukuk Programme (established in 2023).

The Zaki Hashem team on the transaction was led by Ragia Omran (Of Counsel), with support from 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 Ministry of Finance and The Egyptian Financial Co. for Sovereign Taskeek (EFC-ST). ADSERO’s team was led by Hossam Gramon (Partner), assisted by Karima Seyam (Senior Associate) and junior associates Malak Zaki, Mostafa Khaled Serry, Nour Osama, and Nour El Kholy.

This landmark deal further reinforces the firm’s expertise in sovereign sukuk transactions in the region.

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