ALC to act as legal counsel on Wadi Degla Developments’ planned sukuk issuance worth nearly EGP 2bn

Wadi Degla Developments is planning a sukuk issuance worth nearly EGP 2 bn that will be managed by Contact Financial (previously known as Sarwa Capital) and Banque Misr investment arm Misr Capital. ALC will act as legal counsel, alongside Contact and Misr Capital, which are currently in a “strategic alliance” to work together exclusively on sukuk issuances under a mandate from the government to encourage a more active debt market. Read more