Arab Finance: ADI Capital, the investment banking arm of Abu Dhabi Islamic Bank (ADIB Egypt), has arranged an Islamic syndicated financing deal totaling EGP 1.65 billion for Kharafi National, according to a press release sent via email to Arab Finance on August 8th.
ADI Capital acted as the financial advisor in the deal, with the participation of ADIB Egypt in the transaction as the main arranger.
Al Baraka Bank - Egypt, Egyptian Arab Land Bank (EALB), and MIDBANK also participated as main arrangers, while Housing and Development Bank (HDB) and Attijariwafa Bank acted as arrangers.
This financing will support Kharafi's working capital, enabling it to effectively accomplish assigned projects in various vital sectors in the Egyptian market.
Kharafi National is a provider of integrated construction, facilities management, and fabrication services in the energy and waste-water treatment industries.