EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), announced the successful completion of its advisory role in Premium International for Credit Services’ (Premium) ninth securitization issuance, valued at EGP 400 million. This issuance is part of a larger EGP 2 billion program and marks the third transaction within this framework.
Issuance Details
The securitized bond is structured into two tranches:
- Tranche A: Valued at EGP 264 million, with a tenor of 12 months, a fixed interest rate, and a credit rating of P1 by Middle East Rating and Investors Service (MERIS).
- Tranche B: Valued at EGP 136 million, with a tenor of 36 months, a variable interest rate, and a credit rating of A by MERIS.
Comments on the Transaction
Maie Hamdy, Managing Director of Debt Capital Markets at EFG Hermes, highlighted that this transaction underscores the enduring partnership between EFG Hermes and Premium. She emphasized the importance of providing tailored financing solutions to meet clients’ liquidity needs and support their growth. “Premium’s continued success through nine issuances reflects its resilience and commitment to delivering value, and we are proud to play a key role in facilitating access to diversified funding sources,” Hamdy stated.
EFG Hermes’ Achievements in Debt Markets
This issuance adds to a series of recent successes in debt advisory by EFG Hermes, including:
- EGP 519.2 million securitization for Valu.
- Fifth securitization for Bedaya, valued at EGP 1.78 billion.
- Short-term note issuance worth EGP 433 million for EFG Corp-Solutions.
Partners in the Issuance
EFG Hermes acted as the sole financial advisor, transaction manager, bookrunner, underwriter, and arranger for the issuance. Arab African International Bank and Suez Canal Bank served as underwriters, with KPMG as the auditor and Dreny & Partners as legal advisors.
For more real-time economic news, follow us on our Facebook page here:
The Economic Digest website is an online platform specifically designed to provide users with comprehensive summaries of the most important economic events occurring in global and regional markets.
The aim of the Economic Digest is to offer accurate and concise information about economic developments, making it easier for readers to understand the events.
