Founded in Paris in 1920, Gide is a leading international law firm with 12 offices spread throughout the world.
Gide is physically present in six regions of the world, with 11 offices, enabling it to act on cases globally.
19 May 2014
Deals | Morocco/United Kingdom
Gide’s London and Casablanca offices have advised CIH Bank on its 1.2 billion dirham accounts receivable securitisation programme, equivalent to some 110 million euros, whose aim is to diversify CIH Bank’s payment means and to improve its rates and liquidity indicators.
This is CIH Bank’s fourth securitisation operation, making it a leading figure in Morocco’s securitisation field. The operation was arranged by Maghreb Titrisation and led to the setting up of Credilog IV, a mutual investment securitisation fund. The issuance of securities was solely for institutional investors and met with significant enthusiasm from competitor banks, which acquired most of the securities on offer. The remainder was subscribed by insurance companies and mutual funds (OPCVM).
The receivables transferred represented 14,676 mortgage loans entered into by CIH Bank with individuals to finance the acquisition, construction, extension and developing of housing.
CIH Bank was advised by Gide Casablanca, with partner Mariam Rouissi and associate Hasnaa Bennani, and Gide London, with partner Dimitrios Logizidis and associates Samir Bensaker and Jeremie Bismuth.
