Cairo - Mubasher: EFG Hermes, an EFG Holding company, has advised on Bedaya Mortgage Finance’s EGP 1.56 billion securitized bond issuance, the firm’s seventh issuance and fifth under the Capital securitization program.
The bond is backed by a receivables portfolio assigned to Capital for Securitization, a GB company, acting as the special purpose vehicle (SPV), according to a press release.
The offering is comprised of four tranches with variable yields
Holding a credit rating of ‘AA’ from Middle East Rating and Investors Service (MERIS), the first tranche is valued at EGP 171.29 million with a 13-month tenor.
The second one amounted to EGP 552.81 million, with a 36-month tenor and ‘A’ rating.
Both third and fourth tranches were rated ‘A-‘ at a value of EGP 646.24 million and EGP 186.86 million, respectively.
Maie Hamdy, Managing Director - Debt Capital Markets at EFG Hermes, commented: “This transaction reaffirms investor confidence in Bedaya’s portfolio and further highlights the strength of our debt capital markets platform in structuring transactions that enhance liquidity and support long-term growth.”
EFG Hermes acted as sole financial advisor, transaction manager, book-runner, underwriter, and arranger.
The issuance was underwritten by the NBE, Al Baraka Bank, and CIB. Bank NXT and ABC participated as subscribers, with the NBE serving as placement agent.
ADCB acted as custodian, while Dreny & Partners and Baker Tilly served as legal counsel and auditor, respectively.
In the first six months (6M) of 2025, EFG Holding reported lower consolidated net profits after tax valued at EGP 2.86 billion, versus EGP 3.16 billion in H1-24.
