Leading global law firm, Baker McKenzie, recently acted as legal counsel to the European Bank for Reconstruction and Development (EBRD) in connection with their two-year USD 25 million working capital loan to Orascom Construction Company S.A.E (OC), a leading global engineering and construction contractor. This deal marks an important case for Baker McKenzie as it highlights the proficiency of integrated offices when assisting international clients with their financing needs in an extremely swift and efficient manner.
Leading on the transaction, Rafal Zakrzewski, Partner at Baker McKenzie, a solicitor qualified in England & Wales who is based in Warsaw and specialises in acting for international financial institutions on financing transactions, commented: “We are pleased to collaborate with EBRD and Orascom Construction to execute this important transaction especially during the COVID-19 pandemic. It is also an excellent demonstration of how multiple Baker McKenzie offices can seamlessly service cross-border transactions in a manner that is most efficient for our clients.”
Lamyaa Gadelhak, Partner and Co-head of Banking & Projects at Helmy, Hamza & Partners, Baker McKenzie Cairo said, "With the extensive experience that our competent cross-border team of lawyers have in the field of banking and finance along with our in-depth market knowledge, we were successful in bringing the transaction to a speedy conclusion.”
In addition, Sandeep Puri, Partner and Head of Banking and Finance at Baker McKenzie in Dubai, said, “We are delighted to have supported EBRD on this transaction, working together with our colleagues across several offices to ensure this transaction was closed in a short timeframe to address funding needs."
The deal was signed on August 31st, 2020.
Baker McKenzie’s cross-border team from Poland, Egypt and Dubai advised on the transaction. The team was led by Partners Rafal Zakrzewski in Poland, Lamyaa Gadelhak in Egypt and Sandeep Puri in UAE, Dubai and supported by lawyer Marcin Krzemien (Warsaw), banking and finance Senior Associate Mohamed El Harmy (Cairo) and Senior Associate Sabina Passi (Dubai).