Shahid Law Firm maintains an extensive banking and finance practice. Over the past three decades, we have been continuously providing legal services to numerous international and local banks as well as financial institutions.
Our banking and finance practice is highly regarded for its cross-border transactions and regulatory experience. The Banking and Finance practice of Legal 500 2016 has described Shahid Law Firm as ‘very professional, and one of the preferred firms in Egypt’. The publication has listed three members of Shahid Law as recommended attorneys in the field.
We draw on our transactional experience by providing a comprehensive service to our clients on mergers and acquisitions, from share deals to acquisitions of divisions and client portfolios, with an emphasis on the banking industry. Our team also provides clients with ongoing legal advice on day-to-day corporate and regulatory matters.
We frequently opine on financing transactions to both local and international parties, and are often requested to conduct audits on financial institutions’ legal practices.
We represent both lenders and borrowers in various short, medium, and long-term loans advanced by banks and financial institutions such as the International Finance Corporation (IFC), Agence Française De Développement (AFD), China Development Bank (CDB), and DEG – Deutsche Investitions – und Entwicklungsgesellschaft mbH (DEG).
Our banking and finance practice’s areas of activity further include:
- Advising banks and companies on matters pertaining to securities laws and regulations;
- Advising banks on the creation, registration, maintenance, and enforcement of securities and guarantees provided by borrowers;
- Advising banks on all aspects of the financial regulatory process;
- Advising on commercial financing, including cross-border transactions;
- Advising on letters of credit, financial instruments and other trade finance facilities;
- Providing extensive services to various financial institutions (equity firms, investment banks, risk management institutions, and governmental entities); and
- Providing support on other financial transactions, including asset-based lending transactions, real estate, and investment-grade financing.
We also advise on bond issues and convertible bonds, equity capital transactions, alternative and structured financing such as covered bonds and securitizations.
Shahid Law Firm’s involvement in the Banking and Finance industry includes:
- Advising a foreign bank on matters related to issuance and perfomance of bank guarantees under Egyptian law together with Morgan, Lewis & Bockius UK LLP.;
- Advising a global bank with respect to rules concerning hedge funds under Egyptian law with Morgan, Lewis & Bockius UK LLP.;
- Advising the Export Import Bank of China on multiple loans and financial transactions with Egyptian companies operating under the law on special economic zones;
- Advising a major Gulf bank on the application of the general prohibition of parties entering into an agreement allowing the sale with a right of redemption to the concepts in the GMRA;
- Conducting compliance audit on the legal department of one of the largest Egyptian banks. The scope of work included reviewing contracts used by the bank, reviewing all legal cases to which the bank is a party, and reviewing and opining on the facility arrangements granted by the bank (or to which the bank is bank is a party or a member in syndication) in the amount of US$ 50 million and higher;
- Advising a major regional pharmaceutical company in relation to an excess of EGP 200 million in financing obtained from a syndication of banks for the expansion projects it undertook;
- Advising a regional real estate developer on a transaction and representing it in negotiations with the Arab African International Bank regarding the financing of a project relating to the construction of a shopping mall, and commercial and administrative buildings in the citadel area of Cairo, Egypt;
- Advising an leading Gulf bank on data centers and privacy related matters;
- Advising CDB on multiple loans and financial transactions, including a US$ 50 million credit facility to an Egyptian company operating under the law on special economic zones; and also in relation to extending a US$ 100 million credit facility to Afreximbank;
- Providing a multinational grocery and general merchandise retailer with advice within the context of risk analysis;
- Advising DEG in relation to the credit facility agreement extended to the Egyptian subsidiary of a German company setting up a production site to produce non breathable films/foils;
- Advising AFD in relation to the financing granted to the Holding Company for Water and Wastewater for the improvement of the public infrastructure of several wastewater plants across Egypt; and in relation to the credit facility extended to the National Bank of Egypt (NBE) for the purpose of supporting the development of Egyptian small and medium enterprises;
- Advising PROPARCO, the investment arm of AFD, in relation to its investment in Wadi Holding;
- Advising Cementos La Unión S.A. and Áridos Játiva S.L. on the development and financing of their Arabian Cement subsidiary in Egypt;
- Drafting share pledge agreements and other security documentation for ACC and advising on the coding procedures of the pledge before Misr for Central Clearing, Depository and Registry (MCDR), the entity performing clearing and settlement procedures and the Egyptian Stock Exchange (EGX);
- Advising a Swiss financial services group on life insurance legislation under Egyptian law;
- Advising Noble Resources International Pte Ltd on matters relating to banking transactions and letters of credit;
- Advising the National Bank of Greece (NBG) on accepting commercial mortgages as guarantee against financing and financial facilities granted;
- Representing Credit Agricole bank in two controversial cases related to losses allegedly incurred by a client of the bank as a result of the uninstructed closure of his accounts and purchase of foreign currency;
- Representing Commercial International Bank (CIB) in its attempted acquisition of Bank of Alexandria;
- Representing the Egyptian Ministry of Finance in one of its first bond offerings in foreign stock exchanges, as well as in its negotiations with an international investment bank for derivatives arrangements under the ISDA Master Agreement;
- Reviewing a number facilities agreements for Barclays Bank; and also advising Barclays Bank-along with three other banks-on a joint credit facility agreement with an international hotel operator;
- Providing full legal support to several local banks in the preparation of their standard bank documentation for loan agreements, revolving credit facility agreements, security documentation, etc. including BNP Paribas, Barclays Bank, National Bank of Greece and Banque Du Caire; and
- Assisting several banks and financial institutions with day-to-day corporate matters such as holding Board of Directors meetings and General Assemblies including the drafting of minutes, and carrying out the necessary ratification procedures as well as reviewing construction, real estate and employment agreements.