Cairo – Mubasher: The Egyptian Financial Group Hermes Holding (EFG Hermes) announced the issuance of a second EGP 500 million tranche of its EGP 2 billion bond programme for its subsidiary Hermes Securities Brokerage (HSB).
The short-term bond issuance was 1.3 times oversubscribed without the participation of local banks, according to a statement on Sunday.
“The issuance generated very strong demand from a broad array of domestic Egyptian corporates,” Mostafa Gad, Co-Head of Investment Banking at EFG Hermes, said.
EFG Hermes was the sole financial adviser on the transaction and acted as an underwriter, along with Misr Capital.
Zulficar & Partners served as legal adviser and KPMG acted as financial auditor on the transaction.
