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EFG Hermes closes EGP 700m securitisation bond issuance for Amer, Qasatli, Porto
Amwal Al Ghad Published in Amwal Al Ghad on 13 - 01 - 2021

The Egyptian Financial Group Hermes Holding (EFG Hermes) has concluded the first issuance of a securitisation programme worth 6.5 billion pounds for Amer Group Holding Co, Porto Group Holding, and Qasatli.
EFG Hermes served as sole arranger and financial advisor on the 700 million Egyptian pounds issuance.
The issuance, covered more than one time, is backed by a portfolio of receivables worth 911 million pounds from five companies, including four subsidiaries of Amer Group as well as Qasatli.
The programme includes three tranches of securitised bonds with maturities of 13, 36, and 60 months which are rated at AA+, AA, and A, respectively, by Middle East Rating & Investors Service (MERIS).
The program was approved in December 2020 for nine different originators: Amer Group's four subsidiaries, four subsidiaries of Porto Group, and Qasatli. Arab African International Bank (AAIB), Commercial International Bank (CIB), and Suez Bank acted as underwriters, with CIB acting as custodian.

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