IFC invests US$25mn in Egypt’s Carbon Holdings

Dubai / Emirates Business

Investbridge Capital — an independent alternative asset management and advisory firm based in the Dubai International Financial Centre (DIFC) covering emerging growth markets — has announced that it arranged and advised on a cross-border US$25 million (AED 92 million) convertible loan by the International Financial Corporation (IFC) to Carbon Holdings. The latter is an Egyptian developer and operator of downstream petrochemicals projects which will produce raw materials to supply industries, such as mining, food packaging, and automotive parts.
IFC is a member of the World Bank Group. The investment is the second participation in a US$75 million five-year convertible loan structured by Investbridge Capital.
Mark DeSario, Chief Executive Officer, Investbridge Capital says: “We are proud to be associated with Carbon Holdings and are pleased to support them in their impressive growth story. Over the last five years Investbridge has been working closely with the Carbon Holdings team, and we are delighted that our deep understanding of the company has helped structure such a high profile financing, bridging a key international funding source with one of Egypt’s most promising industrial ventures.
“It is clear that this partnership with IFC will enable Carbon Holdings to keep expanding and, at the same time, to contribute to the industrial growth of the country. This landmark transaction will have a positive impact on
the Egyptian economy, creating value and jobs.”
Basil El-Baz, Chairman and Chief Executive Officer of Carbon Holdings, said: “We feel privileged by this demonstration of support and confidence from a world-class institution like IFC. The growth capital financing provided by IFC illustrates the strength of Carbon Holdings’ reputation and allows us to further develop projects which will create jobs, and support the industrial sector in Egypt.”