EFG Hermes closes $44.66mln securitisation bond issuance for three firms

EFG Hermes served as sole arranger and financial advisor on the EGP 700 million issuance, according to a statement on Tuesday.

The issuance, covered more than one time, is backed by a portfolio of receivables worth EGP 911 million from five companies, including four subsidiaries of Amer Group as well as Qasatli.

The programme includes three tranches of securitised bonds with maturities of 13, 36, and 60 months which are rated at AA+, AA, and A, respectively, by Middle East Rating & Investors Service (MERIS).