EFG Hermes Concludes Advisory on Bedaya Mortgage Finance’s Fifth Securitization Issuance Worth EGP 1.78 Billion.
EFG Hermes, a leading investment bank in the MENA region and a subsidiary of EFG Holding, has successfully completed its advisory role on Bedaya Mortgage Finance’s EGP 1.78 billion securitization bond issuance.
EFG Hermes Successfully Concludes Fifth Securitization
This marks the fifth issuance for Bedaya and the third within their broader EGP 10.0 billion securitization program. Bedaya is a key player in Egypt’s non-bank mortgage finance sector, operating under EFG Finance.
The bond issuance is backed by a receivables portfolio assigned to Capital for Securitization, a special purpose vehicle (SPV) affiliated with GB Capital. The deal consists of four tranches with variable yields, detailed as follows:
Tranche A: EGP 178.05 million, 13-month term, AA credit rating from MERIS.
Tranche B: EGP 569.76 million, 36-month term, A credit rating from MERIS.
Tranche C: EGP 614.27 million, 60-month term, A- credit rating from MERIS.
Tranche D: EGP 418.42 million, 81-month term, A- credit rating from MERIS.
Maie Hamdy, Managing Director of Debt Capital Markets at EFG Hermes, commented on the issuance: “Bedaya Mortgage Finance continues to set benchmarks in the mortgage industry.
Four Tranches with Variable Yields
This successful issuance reflects the market’s confidence in Bedaya’s innovative approach and financial stability, as well as our debt capital market team’s ability to execute complex transactions.”
Tarek Abou-Gendia, CEO and Managing Director of Bedaya, expressed the significance of the issuance: “This transaction strengthens our position as a pioneer in Egypt’s mortgage finance sector. Partnering with EFG Hermes has enabled us to optimize our securitization strategy and expand access to home financing for more Egyptians.”
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This issuance is part of EFG Hermes’ ongoing advisory services in the region, including recent work on Sylndr’s EGP 300 million working capital facility and Valu’s 13th securitized bond issuance. EFG Hermes continues to be a leader in structuring landmark financial transactions across MENA.
In this transaction, EFG Hermes served as the sole financial advisor, transaction manager, book-runner, underwriter, and arranger. National Bank of Egypt (NBE), Al Baraka Bank, Arab Banking Cooperation (ABC), and Société Arabe Internationale de Banque (SAIB) were key participants. Abu Dhabi Commercial Bank (ADCB) acted as the custodian bank.
About EFG Holding
EFG Holding, with a presence in eight countries, is a leading financial institution offering innovative financial services in investment banking, non-bank financial institutions, and commercial banking.
EFG Hermes, a division of EFG Holding, is renowned for its expertise in advisory, asset management, securities brokerage, and investment services. EFG Finance, another arm of the group, provides diverse financial solutions including mortgage finance through Bedaya.
For more information, visit EFG Holding Website.
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