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EFG Hermes issues 1st short-term bond in Egypt
Islam salah Published in Amwal Al Ghad on 19 - 12 - 2019

EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), said that its Investment Banking Division has successfully completed first short-term bond transaction in the Egyptian market.
The issuance follows the decision No. 172-2018 issued by the Financial Regulatory Authority (FRA) regarding the rules and procedures for the short-term debt instruments.
EFG Hermes Investment Banking has arranged the issuance 400 million Egyptian pounds, representing the first tranche of 2 billion pounds bond in favour of its EFG Hermes' subsidiary Hermes Securities Brokerage (HSB).
"This transaction marks the debut flotation of a short-term bond on the Egyptian market, a major milestone since the Financial Regulatory Authority issued its decree regarding the procedures for the issuance of short-term debt instruments.”, Mostafa Gad, Co-Head of Investment Banking at EFG Hermes, said.

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