{"id":324356,"date":"2022-01-04T09:30:15","date_gmt":"2022-01-04T09:30:15","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=324356"},"modified":"2022-01-05T09:33:37","modified_gmt":"2022-01-05T09:33:37","slug":"efg-hermes-closes-sixth-egp2bln-issuance-for-premium-international-for-credit-services","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/01\/04\/efg-hermes-closes-sixth-egp2bln-issuance-for-premium-international-for-credit-services\/","title":{"rendered":"EFG Hermes Closes Sixth EGP2bln Issuance for Premium International for Credit services"},"content":{"rendered":"<p><span style=\"text-transform: initial;\">EFG Hermes\u2019 investment banking division, the leading investment banking franchise in Frontier Emerging Markets (FEM), announced today that it has successfully closed the sixth issuance, worth EGP 170 million, as part of Premium International for Credit Services\u2019 (Premium) EGP 2 billion securitization program.<\/span><\/p>\n<ul>\n<li><span style=\"text-transform: initial;\"> This transaction marks the first issuance this year, following two transactions last year, as part of the two-year program.\u00a0<\/span><\/li>\n<\/ul>\n<p>Premium is the originator, assigning a portfolio to EFG Hermes, the securitization special purpose vehicle (SPV), backed by Premium customer credit portfolios. The EGP 170 million bond, which consists of a single 10-month tranche, received a \u201cPrime 1 Rating\u201d for its last five issuances, the strongest amongst Egyptian bond issuances as quoted by Middle East Ratings and Investor Services (MERIS).<\/p>\n<p>&nbsp;<\/p>\n<p>Mostafa Gad, Co-Head of Investment Banking at EFG Hermes, commented: \u201cOur partnership with Premium is a reflection of the continued growth of the Egyptian debt capital market space, with the sixth transaction in the program highlighting an increasing utilization of the asset class. The success of this issuance is a testament to our team\u2019s commitment to broadening our capacity for value creation, and expanding our offering to bring together a holistic set of services that incite growth for our partners and clients alike.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>The deal follows the Firm\u2019s back-to-back conclusions of a securitized bond offering worth EGP 627.5 million for Pioneers Properties for Urban Development and EGP 790 million for EFG Hermes Corp-Solutions\u2019 first issuance, both in December 2021. Both transactions come on the heels of the Firm\u2019s successful advisory on valU\u2019s first securitized bond offering, worth EGP 322.5 million, in September 2021.<\/p>\n<p>&nbsp;<\/p>\n<p>EFG Hermes acted as the sole financial advisor, sole transaction manager &amp; book-runner, underwriter, and arranger.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EFG Hermes\u2019 investment banking division, the leading investment banking franchise in Frontier Emerging Markets (FEM), announced today that it has successfully closed the sixth issuance, worth EGP 170 million, as part of Premium International for Credit Services\u2019 (Premium) EGP 2 billion securitization program<\/p>\n","protected":false},"author":4,"featured_media":320827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[],"class_list":["post-324356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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