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Arab Finance: EFG Hermes, an EFG Holding company, has closed a short-term bond note issuance for Hermes Securities Brokerage, marking the first issuance under the brokerage firm’s newly established fourth short-term bond program with a total size of EGP 10 billion, as per an emailed press release.
The bond was issued as a single 12-month tranche and was covered by institutional and high-net-worth investors, reflecting demand for short-duration fixed-income instruments in the Egyptian market.
The program was established to diversify Hermes Securities Brokerage’s funding sources and provide financing to support its operational and business requirements.
The latest transaction marks the company’s seventh short-term note issuance. Hermes Securities Brokerage has previously completed six commercial paper issuances, with a combined value of around EGP 3.2 billion, expanding its activity in Egypt’s short-term capital markets.
According to the company, proceeds from the issuance will support Hermes Securities Brokerage’s operational and business activities, while enhancing its funding flexibility as one of Egypt’s brokerage platforms.
Bank NXT acted as placement agent for the transaction. EFG Hermes served as sole financial advisor, sole transaction manager, bookrunner, underwriter, and arranger. Dreny & Partners acted as legal advisor, while KPMG served as financial auditor.
The transaction comes as EFG Holding continues to expand capital market access, diversify investment products, and support the financing needs of its subsidiaries through structured funding solutions.
