IslamicFinance.de

The Islamic Corporation for the Development of the Private Sector ( ICD ) together with Al-Nouran Multitrading (ANM), Egypt's private sector sugar trading house, have announced the signing of the Islamic Senior, Mezzanine and Working Capital Facilities Agreements for a new mega sugar production facility in Al-Sharkia Governorate. A total of $372 million will be invested into building this facility, which is expected to produce and refine more than 500,000 metric tons of sugar annually. ICD supported the project by a package including equity investment, mezzanine financing and standby
guarantees of up to $46 million. Further, ICD played a key role in arranging and structuring equity investment and mezzanine financing as well as supported ANM in negotiating and closing remaining financing package.