Beltone Mortgage has completed its first securitised bond issuance worth EGP 1.32bn, under the umbrella of Beltone Securitization's second programme. The transaction attracted strong investor appetite, achieving 2.3 times oversubscription, which underscored market confidence in the quality of Beltone Mortgage's portfolio and the strength of its financial position. The bond is structured into four tranches. Tranche A, valued at EGP 551m, carries a tenor of 24 months and has been rated AA+. Tranche B amounts to EGP 328m with a 36-month tenor and a rating of AA. Tranche C stands at EGP 238m over 48 months with a rating of A-, while Tranche D is valued at EGP 203m, carrying a 60-month tenor and also rated A-. Hassan Abdelnabi, CEO of Beltone Mortgage, said the transaction reflects "the strength and quality of our mortgage finance portfolio and reinforces our ability to structure innovative funding solutions that support our sustainable growth ambitions." Sherif Hassan, Group Treasurer and Managing Director of Debt Capital Markets at Beltone, described the issuance as "another step in our expansion within Egypt's structured finance space," adding that it reaffirms Beltone's leadership in the local debt capital market and its commitment to scalable, customised financial solutions tailored to evolving client needs. Fahd Elhadidy, Deputy CEO and CFO of Beltone Mortgage, noted that the structure of the issuance demonstrates "our disciplined financial strategy, balancing attractive risk-adjusted returns for investors with long-term funding objectives that support the sustainable growth of our mortgage business." The transaction was supported by several key institutions. Matouk Bassiouny & Hennawy acted as Legal Advisor, while KPMG served as External Auditor. Abu Dhabi Commercial Bank (ADCB) acted as Custodian and Backup Servicer, and Banque du Caire served as Placement Agent. The issuance was underwritten by the National Bank of Egypt, Banque du Caire, Al Baraka Bank, and Ahli Bank of Kuwait. Subscribers included ADCB, saib, the Industrial Development Bank (IDBE), and Housing and Development Bank.
