Cairo - Mubasher: Beltone Mortgage, a subsidiary of Beltone Holding, has concluded its first securitized bond issuance under Beltone Securitization’s second program.
The deal attracted strong investor demand, achieving 2.3x oversubscription, according to a press release.
It is worth highlighting that Beltone Investment Banking acted as financial advisor, lead arranger, and bookrunner.
The issuance was structured into four tranches. Tranche A, valued at EGP 551 million, carries a tenor of 24 months with an ‘AA+’ rating.
Meanwhile, Tranches B, C, and D are valued at EGP 328 million, EGP 238 million, and EGP 203 million, with tenors of 36, 48, and 60 months, respectively, and ratings of ‘AA’, ‘A-‘, and ‘A-‘.
Hassan Abdelnabi, CEO of Beltone Mortgage, commented: “This first securitization issuance marks a strategic turning point for Beltone Mortgage. It reflects the strength and quality of our mortgage finance portfolio and reinforces our ability to structure innovative funding solutions that support our sustainable growth ambitions.”
On his part, Sherif Hassan, Group Treasurer and Managing Director of Debt Capital Markets at Beltone, stated: “This issuance represents another step in our expansion within Egypt’s structured finance space. It reaffirms our leadership in the local debt capital market and our commitment to delivering scalable, customized financial solutions to meet the evolving needs of our clients.”
Several institutions supported the transaction. Matouk Bassiouny & Hennawy served as legal advisor, KPMG as external auditor, and ADCB as both custodian and backup Servicer. Meanwhile, Banque Du Caire acted as placement agent.
The issuance was underwritten by the National Bank of Egypt (NBE), Banque Du Caire, Al Baraka Bank, and Ahli Bank of Kuwait.
Key subscribers included ADCB, SAIB, the Industrial Development Bank (IDBE), and Housing and Development Bank.
In the first half (H1) of 2025, Beltone Holding reported consolidated operating revenues valued at EGP 6.30 billion, signaling a 115% year-on-year (YoY) leap.
