Egypt has recorded its largest-ever corporate bond issuance, with a EGP 5.1 billion ($106 million) transaction completed for EFG Corp-Solutions, the leasing and factoring arm of EFG Finance. 

The 13-month bond, issued with an entity credit rating of A-, was structured in two tranches: A fixed-rate note with bullet repayment at maturity and a floating-rate tranche with quarterly repayments.

EFG Hermes acted as sole financial advisor, sole transaction manager, sole book-runner, underwriter, and arranger on the issuance. Bank NXT acted as placement agent on the transaction, with Dreny & Partners serving as legal advisor and KPMG as auditor.

Proceeds from the issuance will be used to support the company’s leasing and factoring activities, as well as broader portfolio growth. Following this issuance, EFG Corp-Solutions’ total debt capital market issuances reached EGP 16.7 billion.

(Writing by Ahmad Mousa; editing by Seban Scaria)
Ahmad.mousa@lseg.com