ArabFinance: The Financial Regulatory Authority (FRA) has approved a securitization bond issuance by El Saeed Contracting and Real Estate Investment Company (SCCD) (UEGC) and its subsidiaries with a total value of EGP 332.69 million, according to the company’s filing to the Egyptian Exchange (EGX).
The authority has agreed on an EGP 31.05 million securitization bond issuance by El Saeed Contracting and Real Estate Investment and an EGP 301.64 million by its subsidiaries.
EFG Hermes acted as the financial advisor, arranger, manager, promoter, and underwriter for the issuance.
El Saeed Contracting is an Egypt-based company engaged in the provision of general and specialized contracting and construction services.
The company’s activities are structured into three divisions: contracting, gravel quarries, and real estate.