Beltone Leasing closes 2nd bond in less than 9 months at EGP 2B

Updated 5/20/2025 9:19:00 AM

Arab Finance: Beltone Holding’s subsidiary Beltone Leasing and Factoring has concluded its second securitization issuance in less than a year, with a total value of EGP 2 billion, according to an emailed press release.

Beltone Investment Banking’s Debt Capital Markets Division led the transaction as the financial advisor, lead manager, and bookrunner.

The issuance was executed through Beltone Securitization Company and rated by Middle East Rating and Investors Services (MERIS), each with a minimum credit rating of “A”.

It was structured into three tranches, with the first valued at EGP7 31 million and holding a tenor of 25 months.

The second and third tranches stood at EGP 698 million and EGP 581 million, respectively. They will mature in 37 months and 54 months, respectively.

The transaction attracted strong investor interest, with participation from Emirates NBD Egypt, Société Arabe Internationale de Banque (SAIB), and Attijariwafa Bank.

Banque du Caire, Suez Canal Bank, and First Abu Dhabi Bank Egypt (FABMISR) handled the underwriting process of the offering.

ALC Al-Weshahi & Partners provided legal counsel, and KPMG acted as external auditor. Suez Canal Bank acted as custodian, while Banque du Caire served as placement agent.

Amir Ghannam, Deputy Head of Non-Banking Financial Services for Leasing, Factoring, and Consumer Finance, said: “This second issuance is a significant milestone that reflects our commitment to developing financing solutions that meet the evolving needs of our clients’ needs and contribute to sustainable growth in the financial sector."

Sherif Hassan, Group Treasurer and Managing Director of Debt Capital Markets, added: “This transaction showcases our strong structuring capabilities and our agility in executing securitization deals that align with the demands of the debt market.”