{"id":320510,"date":"2021-01-13T09:09:08","date_gmt":"2021-01-13T09:09:08","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=320510"},"modified":"2021-01-13T09:09:08","modified_gmt":"2021-01-13T09:09:08","slug":"efg-hermes-closes-egp-700m-securitisation-bond-issuance-for-amer-qasatli-porto","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/01\/13\/efg-hermes-closes-egp-700m-securitisation-bond-issuance-for-amer-qasatli-porto\/","title":{"rendered":"EFG Hermes closes EGP 700m securitisation bond issuance for Amer, Qasatli, Porto"},"content":{"rendered":"<p>The Egyptian Financial Group Hermes Holding (EFG Hermes) has concluded the first issuance of a securitisation programme worth 6.5 billion Egyptian pounds for Amer Group Holding Co, Porto Group Holding, and Qasatli.<\/p>\n<p>EFG Hermes served as sole arranger and financial advisor on the 700 million Egyptian pounds issuance.<\/p>\n<p>The issuance, covered more than one time, is backed by a portfolio of receivables worth 911 million pounds from five companies, including four subsidiaries of Amer Group as well as Qasatli.<\/p>\n<p>The programme includes three tranches of securitised bonds with maturities of 13, 36, and 60 months which are rated at AA+, AA, and A, respectively, by Middle East Rating &amp; Investors Service (MERIS).<\/p>\n<p>The program was approved in December 2020 for nine different originators: Amer Group\u2019s four subsidiaries, four subsidiaries of Porto Group, and Qasatli. Arab African International Bank (AAIB), Commercial International Bank (CIB), and Suez Bank acted as underwriters, with CIB acting as custodian.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-320512 aligncenter\" src=\"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2021\/01\/WhatsApp-Image-2021-01-12-at-3.51.12-PM-1.jpeg?resize=239%2C300&#038;ssl=1\" alt=\"\" width=\"239\" height=\"300\" srcset=\"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2021\/01\/WhatsApp-Image-2021-01-12-at-3.51.12-PM-1.jpeg?resize=239%2C300&amp;ssl=1 239w, https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2021\/01\/WhatsApp-Image-2021-01-12-at-3.51.12-PM-1.jpeg?resize=816%2C1024&amp;ssl=1 816w, https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2021\/01\/WhatsApp-Image-2021-01-12-at-3.51.12-PM-1.jpeg?resize=768%2C964&amp;ssl=1 768w, https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2021\/01\/WhatsApp-Image-2021-01-12-at-3.51.12-PM-1.jpeg?w=1020&amp;ssl=1 1020w\" sizes=\"auto, (max-width: 239px) 100vw, 239px\" \/><\/p>\n<p>\u201cWe are pleased to once again be partnering with Amer Group, one of Egypt\u2019s leading real estate developers. The transaction follows on the heels of the successful close of a securitization program on behalf of Talaat Moustafa Group, bringing total debt issuances for the team to nine worth EGP 6 billion since the beginning of 2020. The success only serves to underscore our commitment to expanding our securitization capabilities as the asset class continues to gain traction in Egypt,\u201d said Mostafa Gad, Co-Head of EFG Hermes&#8217; Investment Banking Division.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Egyptian Financial Group Hermes Holding (EFG Hermes) has concluded the first issuance of a securitisation programme worth 6.5 billion Egyptian pounds for Amer Group Holding Co, Porto Group Holding, and Qasatli.<\/p>\n","protected":false},"author":4,"featured_media":320511,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[82],"class_list":["post-320510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main","tag-efg-hermes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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