Arab Finance: EFG Hermes, an EFG Holding Company, concluded advisory on the EGP 400 million securitized bond issuance for Premium International for Credit Services, according to a press release.

The issuance marked their ninth since inception and the third in a wider EGP 2 billion program.

EFG Hermes acted as the sole financial advisor and transaction manager, in addition to serving as a book-runner, underwriter, and arranger on the transaction.  

Supported by a receivables portfolio assigned to EFG Hermes Securitization as the issuance’s special purpose vehicle (SPV), the offering comprised two tranches.

Tranche A stood at EGP 264 million, holding a 12-month tenor, fixed interest rate, and a credit rating of P1 from Middle East Rating and Investors Service (MERIS)

Meanwhile, tranche B was valued at EGP 136 million, with a 36-month tenor, variable interest rate, and a credit rating of A from MERIS.

Maie Hamdy, Managing Director - Debt Capital Markets at EFG Hermes, commented: “By structuring innovative debt capital solutions tailored to our clients' needs, we continue to pave the way for businesses to access diversified financing options, enabling them to expand and thrive in challenging economic environments.”

This transaction comes as the latest in a string of debt issuances advised on by EFG Hermes in the region. EFG Hermes recently closed the fifth securitization for Bedaya valued at EGP 1.78 billion.  

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