EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that it successfully concluded advisory on the EGP 451 million securitized bond issuance for Amer Group. This marks the company’s second issuance and the first under its new EGP 4 billion securitization program.
The bond is backed by a receivables portfolio assigned to EFG Hermes for Securitization as the issuance’s special purpose vehicle (SPV). With a 72-month tenor, the issuance is comprised of three tranches, structured as follows:
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Tranche A – Valued at EGP 83.4 million, with a 13-month tenor, fixed interest rate, and a credit rating of AA+
Tranche B – Valued at EGP 207.5 million, with a 36-month tenor, fixed interest rate, and a credit rating of AA
Tranche C – Valued at EGP 160.1 million, with a 72-month tenor, fixed interest rate, and a credit rating of A-
Maie Hamdy, Managing Director, Debt Capital Markets at EFG Hermes, commented, “This issuance represents another important milestone in our ongoing partnership with Amer Group and highlights our commitment to supporting Egypt’s leading real estate developers with innovative, tailored debt capital market solutions. By structuring the first issuance under Amer Group’s new EGP 4 billion program, we are enabling the company to diversify its funding base and continue pursuing its long-term growth objectives with confidence and financial flexibility.”
EFG Hermes acted as sole financial advisor, sole transaction manager, book-runner, underwriter, and arranger on the transaction. Commercial International Bank (CIB) and Al Baraka Bank acted as underwriters, while CIB also served as a custodian, and Industrial Development Bank (IDB) was the placement agent bank and one of the subscribers. Dreny & Partners acted as legal advisor, and KPMG served as the auditor.
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