From Miami Sands to Brussels Boardrooms: The High-Stakes Gambit for Ukraine's Future    Mediterranean veterinary heads select Egypt to lead regional health network    Ramy Sabry performs at opening of "The Village" in Egypt's Celia development in New Administrative Capital    Egypt demands 'immediate' Israeli withdrawal from all Lebanese territory    Cairo and Beirut seek deeper economic integration through private sector and infrastructure projects    Egypt's West Gerga industrial zone hosts Middle East's first cooling compressor plant    Foreign troop withdrawal from Libya, Sudan ceasefire urged by Egypt and Algeria    Egyptian-built dam in Tanzania is model for Nile cooperation, says Foreign Minister    Egypt says Qatari Al Mana fuel project in Sokhna does not involve land sale    Egypt partners with global firms to localise medical imaging technology    The Long Goodbye: Your Definitive Guide to the Festive Season in Egypt (Dec 19 – Jan 7)    EGX closes in red zone on 18 Dec.    Al-Sisi affirms support for Sudan's sovereignty and calls for accountability over conflict crimes    Egypt flags red lines, urges Sudan unity, civilian protection    Oil prices rise on Thursday    Egypt's Al-Sisi offers to host talks to support DRC peace process in call with Tshisekedi    Central Bank of Egypt, Medical Emergencies, Genetic and Rare Diseases Fund renew deal for 3 years    Egypt's SPNEX Satellite successfully enters orbit    Egypt unveils restored colossal statues of King Amenhotep III at Luxor mortuary temple    Egyptian Golf Federation appoints Stuart Clayton as technical director    4th Egyptian Women Summit kicks off with focus on STEM, AI    Egypt's PM reviews major healthcare expansion plan with Nile Medical City    UNESCO adds Egyptian Koshari to intangible cultural heritage list    UNESCO adds Egypt's national dish Koshary to intangible cultural heritage list    Egypt recovers two ancient artefacts from Belgium    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches Red Sea Open to boost tourism, international profile    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt's NUCA bonds wins The Banker's "Securitisation Deal of the Year 2020- Africa
Yomna Yasser Published in Amwal Al Ghad on 15 - 05 - 2020

A bond issued by Egypt's New Urban Communities Authority (NUCA), part of the Ministry of Housing, has won The Banker's "Deal of the Year 2020 – Africa" award in the securitisation category.
The Banker is a sister publication of the Financial Times.
The European Bank for Reconstruction and Development (EBRD) has invested 500 million Egyptian pounds (€29 million equivalent or $31.3 million) in the NUCA's securitiSation bond.
The Banker's Deals of the Year awards 2020 recognise the most impressive investment banking transactions across the broad spectrum of global capital markets.
The awarded issuance size of 4 billion pounds was arranged by Sarwa Capital Holding for Financial Investments and Banque Misr, with the EBRD being a major participant and the only international investor to take part in the offering.
It was the second transaction under a 10-billion-pound local currency programme by NUCA with the aim of diversifying its sources of financing and accessing a cost-effective and flexible alternative to traditional bank financing.
The funds raised are particularly impactful, as NUCA has embarked on an ambitious investment plan to develop a number of new cities to accommodate Egypt's growing population away from the narrow strip of the Nile Delta, the EBRD said in a statement. This will help stimulate the Egyptian economy and create new job opportunities for local people, it added.
In total, the EBRD invested 1.5 billion pounds (€88 million equivalent) in the programme.
"We warmly congratulate our Egyptian partners on winning this prestigious award and we are pleased that we had been able to play a significant role in this successful programme." Sue Barrett, EBRD Head of Infrastructure for Turkey, Middle East, and Africa, said.
"This landmark bond programme will further support the deepening of the local debt capital markets in Egypt, and contribute to the much-needed diversification of investable EGP assets for the local and international institutional investor base."
NUCA has developed over 20 cities, with the strong support of the private sector including developers and contractors. Its strategy is to develop new towns on desert land and to redistribute the population away from the Nile Delta, stimulating the country's economy and creating new job opportunities.

Clic here to read the story from its source.