EFG Hermes closes advisory on Qasatli’s EGP 159.2M securitized bond issuance
Updated 10/19/2023 10:55:00 AM
Arab Finance: EFG Hermes has successfully concluded advisory on an EGP 159.2 million securitized bond issuance for mortgage finance firm Qasatli, according to an emailed press release on October 19th
This marks Qasatli’s second issuance under a wider issuance program worth EGP 6.5 billion.
The offering consists of three tranches, the first of which is worth EGP 15.9 million, with a tenor of 13 months and a rating of AA+ from Middle East Ratings and Investor Services (MERIS).
Meanwhile, the second tranche is valued at EGP 73.2 million with a tenor of 36 months and an AA rating from MERIS, and the EGP 70 million third tranche carries a tenor of 70 months and received a rating of A.
EFG Holding served as the transaction's bookrunner, underwriter, and financial advisor on the transaction.
KPMG acted as the transaction's auditor and Dreny and Partners was its legal counsel.
The underwriting bank and the transaction’s custodian was the Commercial International Bank (CIB).
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