Helmy, Hamza & Partners Acted For Banque Du Caire In Securing Syndicated Loan For Cheiron Egypt Delta

Helmy, Hamza & Partners Acted For Banque Du Caire In Securing Syndicated Loan For Cheiron Egypt Delta

Helmy, Hamza & Partners, Baker McKenzie Cairo office, has acted as transaction counsel for Banque du Caire S.A.E. as the agent on behalf of a group of lenders in securing a USD 75 million syndicated medium-term loan facility for Cheiron Egypt Delta Limited, a subsidiary of Egypt-based exploration and production company Cheiron Petroleum Corporation. The loan will finance up to 45.5% of the investment costs associated with the development works for the West Burullus area, part of a concession agreement for gas and crude oil exploration and exploitation in Egypt.

The syndicate of banks involved in the transaction includes Banque du Caire, Al Baraka Bank Egypt, Arab International Bank, and Société Arabe Internationale de Banque (saib). The deal was successfully completed on 30 January 2025.

Ghada El Gharib remarked on the transaction:

"This milestone transaction is the first of its kind in the Egyptian market, marking a significant achievement in financing for the energy sector. We are proud to have supported on this groundbreaking deal, which not only fuels Cheiron's continued growth but also highlights the continuously growing investor confidence in Egypt's oil and gas sector."

The Baker McKenzie Cairo team advising on the transaction included Lamyaa Gadelhak (Partner and Chair of Global Project Finance Group), Ghada El Gharib (Counsel), Mostafa Lotayef (Counsel), Victoria Long (Counsel), Ahmed Shehata (Senior Associate), and Hania Meshref (Associate).