Cairo – Mubasher: Beltone Leasing and Factoring, a subsidiary of Beltone Holding, has completed its first securitisation issuance valued at EGP 1.33 billion, according to a press release.
Beltone Investment Banking’s Debt Capital Markets Division acted as the financial advisor, issuance manager, and bookrunner.
The issuance witnessed an oversubscription of 1.5x in line with Beltone’s financial management and ability to tap into Egypt’s evolving capital markets, attracting a diverse range of investors.
The bond includes three tranches, with Tranche A valued at EGP 164 million, holding a tenor of 12 months, and rated AA+ by Middle East Rating and Investors Service (MERIS).
Tranche B stood at EGP 945 million, with a tenor of 36 months, and rated AA by MERIS. Tranche C amounted to EGP 224 million, with a tenor of 48 months, and rated A by MERIS.
Amir Ghannam, Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance at Beltone, said: “This successful transaction not only highlights our strength but also unlocks new capital streams that will propel our future growth and innovation, driving us to set new benchmarks in the industry.”
Sherif Hassan, Group Treasurer and Managing Director of Debt Capital Markets at Beltone, added: “As we embark on this journey into the Debt Capital Markets, we are unleashing a wave of innovative financial instruments to transform the market and deliver tailored solutions for our clients that drive growth.”
Last month, Beltone Leasing penned an agreement with Madkour Group at a value of EGP 400 million.
