Dreny & Partners Law Firm is thrilled to announce that our dedicated team was able to set a new record by successfully finalizing 99% of the securitization transactions in Egypt amounting to EGP 9,110,000,000 that took place in one month; December 2021. Where the Firm acted as the Legal Advisor for a diverse portfolio of clients, comprised of financial leasing companies, real estate developers as well as prominent consumer finance corporations.
The Firm successfully advised several financial leasing companies, including Tamweel Finance S.A.E, GB Lease Company, Global Corp for Financial Services & EFG Corp Solutions for their multi-issuances program, respectively, amounting to a total of EGP 6,079,000,000 backed up with a financial leasing portfolio.
The Firm’s Capital Market team also acted as the legal advisor for real estate developers; Madinet Nasr for Housing & Development, Talaat Mostafa Group and Misr Italia Properties, on their multi-issuances program, respectively, amounting to a total of EGP 1,864,000,000.
In addition to the above, the team has also advised various leading consumer finance companies; comprising of Premium International Company for Financial Services, Abdel Latif Jameel Finance Auto and Rawaj Auto Finance Services, respectively on their transactions amounting to a total of EGP 1,165,650,000 backed up with consumer finance portfolios.
The offerings of the above-mentioned transactions, consisted of multiple tranches with tenders rating Prime, AA+, AA & A by Middle East Rating & Investors Service (MERIS).
Motaz Dreny, Founder & Managing Partner commented: “This year was very successful for us at Dreny & Partners, and we are delighted to close 2021 owning 99% of the Debt Capital Market transactions that took place during one month. I would like to thank my wonderful hard-working team for this outstanding achievement, especially that this result could not have been achieved without their cooperation & dedication, also I would like to congratulate our esteemed clients for their closings”, Dreny, added “We are looking forward to a great 2022, and we are determined to make it full of more successes”.
Partner, Imane Raouf said: “We are extremely excited to end the year with such an accomplishment, closing 10 out of 11 transactions in only one month was a great challenge for us, as we were determined to meet our client’s deadlines. We are looking forward for more success in 2022”.
It is worth mentioning that Dreny & Partners Law firm acted as the local counsel to the leading African connectivity, digital & financial services company Vodacom in what to be considered Egypt’s largest ever acquisition in 2021, where Vodacom acquired a controlling stake of 55% interest in Vodafone Egypt.
The transactions were led by Managing Partner, Motaz El Dreny, Partner Imane Raouf & the Corporate & Capital Market team: Associates Sherine El Menyawy & Laila Zaki, Nagy Ebeid, Metwally Sweify, as well as Junior Associates: Abdelreheem Ashraf, Alaa Azmy, Aya Khaled, Nada Kamal, Ahmed Hamdi & Hussein Amer