Arab Finance: EFG Hermes, a subsidiary of EFG Holding, has concluded the issuance of an EGP 600 million senior unsecured short-term note for the Hermes Securities Brokerage Company (HSB), a wholly-owned subsidiary of EFG Holding, as per an emailed press release.

This marks the fifth issuance for HSB and the second in a two-year program valued at EGP 2 billion aimed at diversifying funding sources. 

Middle East Ratings and Investor Services (MERIS) has affirmed HSB's national scale long-term senior unsecured entity rating at BBB+ with a Stable Outlook, alongside the short-term senior unsecured issuer rating of P2.

The 12-month bullet note carries a variable rate coupon paid after six months and upon maturity. Proceeds from the issuance will bolster HSB's financial portfolio.

EFG Hermes served as the sole financial advisor, transaction manager, book-runner, underwriter, and arranger for this issuance.

EFG Hermes acquires minority stake in Denmark’s Kenzi Wealth Updated 5/21/2024 10:37:00 AM

Valu wraps up EGP 616.75M securitized bond issuance Updated 5/20/2024 1:10:00 PM

GP Capital’s subsidiary closes EGP 1.4B securitized bond issuance Updated 5/19/2024 1:23:00 PM

EFG Corp-Solutions to finance real estate, industrial sectors with EGP 1B in Q2 Updated 5/19/2024 7:18:00 AM

EFG Hermes ONE receives FRA approval for digital onboarding Updated 4/29/2024 8:26:00 AM