Capital Markets

Equity Capital Markets

Shalakany has gained substantial experience in the field of initial public offerings and equity capital markets work by acting as legal counsel for underwriters, issuers, sell side and buy side equity investors across various transactions.

Debt Capital Markets

Shalakany has developed extensive expertise in the field of debt securities offerings, including bonds, convertible bonds, medium term note programs and global share investment programs.

Derivatives and Structured Products

Shalakany has advised on a range of structured products and derivative transactions. These include various forms of International Swaps and Derivatives Association Agreements, Global Master Repurchase Agreements and Global Master Securities Lending Agreements. Shalakany recently advised a leading oil and gas company on cross-border provision of derivatives products and investment services in Egypt and advised a major bank on entering into derivative transactions with Egyptian counterparties and the validity and enforceability of the ISDA Master Agreement and ISDA Credit Support Annex (UK) under Egyptian law.

The firm is advising several leading international banks and drafting the local sections and reviewing the prospectuses for structures allowing such banks to issue offshore notes backed by Egyptian T-Bonds and T-Bills (which are, in some cases, listed on the Egyptian Stock Exchange).

 

Equity Capital Markets deals and cases:

  • Shalakany is acting for Al Ahly Capital, ECHEM, the IDA and the National Investment Bank as selling shareholders in a secondary public offer of Abu Qir for Fertilizers and Chemical Industries for over EGP 5 billion.
  • Shalakany recently acted for Global Telecom Holding with regards to a share-buy back transaction and cancellation of their GDR program.
  • Shalakany recently assisted VEON in its mandatory tender offer for up to 43% of the shares of Global Telecom Holding for approximately USD 600 million, the largest mandatory tender offer in Egyptian history.
  • The Firm recently advised EBRD in respect of the Ibn Sina (a leading pharmaceutical products distributor and EBRD’s first equity investment in Egypt) capital increase public offering of EGP 2 billion.
  • The Firm recently acted for one of the largest global automobile manufacturers in advising and providing full transactional support for its capital increase of EGP 1.75 billion.
  • The Firm has previously acted for the underwriters in connection with a planned IPO for a large regional conglomerate (based in a GCC country) with substantive Egyptian operations.

 Debt Capital Markets deals and cases:

  • The Firm recently acted as the Egyptian legal advisors for the dealers and the Trustee in connection with the update of the USD 5,000,000,000 Euro Medium Term Note Programme for the African Export-Import Bank as well as several issuances of notes under the Programme.
  • The Firm recently acted for Global Telecom Holding on the issuance of a corporate bond with a value of over USD 1 billion.