Cairo - Mubasher: EFG Hermes, an EFG Holding company, has concluded advisory on the EGP 3.82 billion securitized bond issuance for EFG Corp-Solutions, according to a press release.
The transaction marks the fourth securitization issuance for EFG Corp-Solutions and the fifth standalone issuance for the special purpose vehicle (SPV) EFG Hermes for Securitization.
The offering is backed by a receivables portfolio assigned to EFG Hermes for Securitization.
It has a tenor of 56 months and is structured into three tranches with a variable interest rate.
The first tranche is valued at EGP 783.30 million, with a 13-month tenor and ‘AA+’ rating.
Holding a 36-month tenor, the second tranche is rated ‘AA’, with a value of EGP 2 billion. The last one stands at EGP 1 billion and carries a 56-month tenor, with a ‘A-‘ rate.
On his part, Maged El Ayouti, Co-Head of Investment Banking at EFG Hermes, said: “This issuance reflects our ongoing commitment to supporting EFG Corp-Solutions in diversifying its funding base and driving the continued growth of its securitization program.”
He added: “The strength of this transaction underscores investor confidence in the company’s robust asset portfolio and EFG Hermes’ leadership in structuring innovative debt solutions that enhance liquidity in the market.”
EFG Hermes acted as the sole financial advisor, sole transaction manager, book-runner, underwriter, and arranger of the transaction.
The Commercial International Bank (CIB), Arab African International Bank (AAIB), and National Bank of Egypt (NBE) acted as underwriters, with CIB also serving as custodian, and AAIB as the subscription bank.
Matouk Bassiouny & Hennawy acted as legal advisors, and KPMG served as the auditor.
