Baker McKenzie Cairo office, successfully advised a syndicate of banks consisting of Banque Misr – Dubai branch, the European Bank for Reconstruction and Development (EBRD) and Banque Misr S.A.E. on the provision of a USD 40 million and EUR 39 million syndicated medium-term loan facility to leading mobile telecommunications provider Orange Egypt for Telecommunications S.A.E (“Orange Egypt”). The loan is designed to finance Orange Egypt’s acquisition of the 5G mobile license from the National Telecommunications Regulatory Authority (NTRA).
The transaction, which was finalized on 21 January 2025, marks a significant step forward for both the telecommunications industry in Egypt and the country's broader digital transformation. The syndicated loan aims to support Orange Egypt in deploying 5G technology for the first time in Egypt, offering consumers higher-speed mobile connectivity, enhancing customer experience and stimulating digital growth. Orange Egypt’s associated network upgrade is also expected to reduce CO2 emissions by over 1.7 million tonnes per year.
Commenting on the transaction, Ghada El Gharib, Counsel in the Banking and Projects practice at Baker McKenzie Cairo, said: "This is truly a landmark transaction in the Egyptian telecommunications sector, as it represents the entry of the 5G services into the market. With this strategic move, Egypt is now positioned to embrace the next generation of mobile technology. We are proud to have contributed to such an impactful development."
The Cairo team at Baker McKenzie who worked on the transaction included Ghada El Gharib and Noureldin Elhayatmy, supported by Lamyaa Gadelhak and Ghada El Ehwany. Their expertise in handling complex financing structures was integral to the successful completion of the deal.