Transaction

HSBC, Mashreq and partners invest USD 550 million in Cheiron Finance's operations in Egypt

Announced

19 July 2026

Target

Cheiron Finance Limited

Value

$550m

Asset class

Private Credit

Type

Debt Financing

Instrument

Syndicated Loan

Lead investors

HSBC Bank Egypt S.A.E, Mashreqbank

Investors

HSBC Bank Egypt S.A.E, Mashreqbank, Arab Bank for Economic Development in Africa (BADEA), SBM Bank (Mauritius) Ltd, Abu Dhabi Commercial Bank, Bank ABC, Al Ahli Bank of Kuwait, Emirates NBD Egypt S.A.E., First Abu Dhabi Bank

Sector

Energy and power / Oil Exploration & Production, Natural Gas

Markets

Egypt

About the target

Cheiron Finance Limited is the financing subsidiary of the Cheiron Group, Egypt's largest independent oil and natural gas exploration and production (E&P) company. Established as the group's debt-raising vehicle, it serves as borrower on reserve-based and syndicated lending facilities funding development across the group's upstream portfolio. The operating group, founded in the late 1980s as PICO International Petroleum and owned by the Diab family, holds concession rights granted by the Egyptian government in the Gulf of Suez, the Western Desert, and the Nile Delta, with additional assets in Mexico and Romania. Its principal activities comprise near-field exploration, appraisal, field development, and the production of crude oil and natural gas from mature and declining fields, at gross operated production of approximately 130,000 barrels of oil equivalent per day.