{"id":326254,"date":"2022-09-29T16:11:54","date_gmt":"2022-09-29T16:11:54","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=326254"},"modified":"2022-09-29T16:11:54","modified_gmt":"2022-09-29T16:11:54","slug":"efg-hermes-corp-solutions-closed-a-egp-2-bn-securitized-bond-issuance","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/09\/29\/efg-hermes-corp-solutions-closed-a-egp-2-bn-securitized-bond-issuance\/","title":{"rendered":"EFG Hermes Corp-Solutions closed a EGP 2 bn securitized bond issuance"},"content":{"rendered":"

Egyptian Financial Group Hermes Holding (EFG Hermes) and EFG Hermes Holding\u2019s wholly-owned subsidiary, EFG Hermes Corp-Solutions, announced the successful conclusion of the latter\u2019s second issuance of a securitisation bond worth EGP 2 billion.<\/p>\n

Comprised of three tranches, the bond is backed by a receivables portfolio of c. EGP 2.9 billion, representing 24 lease contracts, according to a press release on Thursday.<\/p>\n

Tranche A of the securitisation bond amounts to\u00a0EGP 260 million, with a tenor of 13 months, and a credit rating of AA+ from Middle East Ratings and Investor Services (MERIS).<\/p>\n

<\/div>\n

Moreover, tranche B is valued at EGP 890 million, with a tenor of 36 months, and a credit rating of AA from MERIS, and tranche C, the final tranche, is valued at EGP 850 million, with a tenor of 72 months, and a credit rating of A- from MERIS.<\/p>\n

Commenting on the issuance, Co-Head of Investment Banking at EFG Hermes, Moustafa Gad<\/strong>, said, \u201cFollowing the success of the first issuance in Corp-Solutions\u2019 securitisation program, we\u2019re proud to have successfully concluded this second issuance, providing EFG Hermes Corp-Solutions with substantial new funding to expand their operations.<\/em>\u201d<\/p>\n

CEO of EFG Hermes Corp-Solutions, Talal El Ayat<\/strong>, stated: \u201cDiversifying our funding sources helps us achieve our goals in expanding our operational footprint and growing our client base through providing a wide variety of novel financial solutions, as we continue our commitment to support private sector growth.<\/em>\u201d<\/p>\n

EFG Hermes Corp-Solutions has\u00a0a healthy and diverse client mix of 20% SMEs and 80% mid-cap to large corporations covering a myriad of sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egyptian Financial Group Hermes Holding (EFG Hermes) and EFG Hermes Holding\u2019s wholly-owned subsidiary, EFG Hermes Corp-Solutions, announced the successful conclusion of the latter\u2019s second issuance of a securitisation bond worth EGP 2 billion.<\/p>\n","protected":false},"author":2,"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":[82],"class_list":["post-326254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main","tag-efg-hermes"],"yoast_head":"\nEFG Hermes Corp-Solutions closed a EGP 2 bn securitized bond issuance - egy-africa<\/title>\n<meta name=\"description\" content=\"Egyptian Financial Group Hermes Holding (EFG Hermes) and EFG Hermes Holding\u2019s wholly-owned subsidiary, EFG Hermes Corp-Solutions, announced the successful conclusion of the latter\u2019s second issuance of a securitisation bond worth EGP 2 billion.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2022\/09\/29\/efg-hermes-corp-solutions-closed-a-egp-2-bn-securitized-bond-issuance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG Hermes Corp-Solutions closed a EGP 2 bn securitized bond issuance - 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