{"id":201845,"date":"2023-12-25T21:15:00","date_gmt":"2023-12-25T19:15:00","guid":{"rendered":"https:\/\/www.arabtelegraph.com\/?p=201845"},"modified":"2024-11-21T22:33:30","modified_gmt":"2024-11-21T20:33:30","slug":"efg-hermes-closes-palm-hills-developments-securitization-issuance-worth-egp-421-million-as-part-of-its-egp-5-billion-issuance-program","status":"publish","type":"post","link":"https:\/\/www.arabtelegraph.com\/?p=201845","title":{"rendered":"EFG Hermes Closes Palm Hills Developments Securitization Issuance Worth EGP 421 Million as Part of its EGP 5 Billion Issuance Program"},"content":{"rendered":"\n<p dir=\"ltr\"><strong>EFG Hermes, the leading investment bank in Frontier and Emerging Markets (FEM) under EFG Holding and Palm Hills Developments (PHD), a leading real estate developer in Egypt jointly announced today the successful closing of an EGP 421 million securitized bond, the second issuance in a newly approved EGP 5 billion program.<br><\/strong>The issuance is structured as follows:<br>Tranche A \u2013 valued at EGP 50.52 million with a tenor of 13 months and a credit rating of AA+ from Middle East Ratings and Investors Service (MERIS)<br>Tranche B \u2013 valued at EGP 155.77 million with a tenor of 36 months and a credit rating of AA from MERIS<br>Tranche C \u2013 valued at EGP 214.71 million with a tenor of 84 months and a credit rating of A from MERIS<br>Maie Hamdy, Managing Director of Debt Capital Markets at EFG Hermes, commented: &#8220;We are delighted to report the successful closure of PHD&#8217;s EGP 5 billion securitized bond program&#8217;s second issuance, which demonstrates our long-standing partnership with the prominent Egyptian developer. The issuance garnered significant interest from investors, highlighting the ongoing significance and demand for top-tier real estate assets in the Egyptian market. This deal also underscores our leading role as the preferred financial advisor and arranger for securitization transactions in Egypt, as we persist in delivering innovative, custom-tailored solutions across diverse sectors and industries to fortify our clients&#8217; financial stability and support their ambitious expansion strategies.&#8221;<\/p>\n\n\n\n<figure class=\"wp-block-gallery columns-2 is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"1014\" src=\"https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/df96db23-b313-4e9a-bbac-3b7d15755cc7-1024x1014.jpg\" alt=\"\" data-id=\"201847\" data-link=\"https:\/\/www.arabtelegraph.com\/?attachment_id=201847\" class=\"wp-image-201847\" srcset=\"https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/df96db23-b313-4e9a-bbac-3b7d15755cc7-1024x1014.jpg 1024w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/df96db23-b313-4e9a-bbac-3b7d15755cc7-300x297.jpg 300w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/df96db23-b313-4e9a-bbac-3b7d15755cc7-150x150.jpg 150w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/df96db23-b313-4e9a-bbac-3b7d15755cc7-768x760.jpg 768w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/df96db23-b313-4e9a-bbac-3b7d15755cc7-1536x1521.jpg 1536w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/df96db23-b313-4e9a-bbac-3b7d15755cc7.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/li><li class=\"blocks-gallery-item\"><figure><img decoding=\"async\" width=\"554\" height=\"554\" src=\"https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/c1754006-00ce-4500-bf2a-d227cd368b05.jpg\" alt=\"\" data-id=\"201848\" data-full-url=\"https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/c1754006-00ce-4500-bf2a-d227cd368b05.jpg\" data-link=\"https:\/\/www.arabtelegraph.com\/?attachment_id=201848\" class=\"wp-image-201848\" srcset=\"https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/c1754006-00ce-4500-bf2a-d227cd368b05.jpg 554w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/c1754006-00ce-4500-bf2a-d227cd368b05-300x300.jpg 300w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/c1754006-00ce-4500-bf2a-d227cd368b05-150x150.jpg 150w\" sizes=\"(max-width: 554px) 100vw, 554px\" \/><\/figure><\/li><\/ul><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"123\" src=\"https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/42fac731-4ec8-470d-9bee-a3c0c7c8fb0b-1024x123.jpg\" alt=\"\" class=\"wp-image-201849\" srcset=\"https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/42fac731-4ec8-470d-9bee-a3c0c7c8fb0b-1024x123.jpg 1024w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/42fac731-4ec8-470d-9bee-a3c0c7c8fb0b-300x36.jpg 300w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/42fac731-4ec8-470d-9bee-a3c0c7c8fb0b-768x92.jpg 768w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/42fac731-4ec8-470d-9bee-a3c0c7c8fb0b-1536x184.jpg 1536w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2023\/12\/42fac731-4ec8-470d-9bee-a3c0c7c8fb0b.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p dir=\"ltr\">Tarek Tantawy, Co-CEO and Managing Director of PHD, expressed pride, stating, &#8220;We are delighted to sustain our enduring collaboration with EFG Hermes through the successful completion of our second issuance in the securitized bond program. This accomplishment underscores our robust financial performance, the confidence investors have in our growth trajectory, and our capacity to secure funding from diverse channels. We eagerly anticipate channeling these funds into our continued expansion, aiming to surpass customer expectations by delivering timely, high-quality developments that ultimately enhance the overall value of the real estate market.&#8221;<\/p>\n\n\n\n<p dir=\"ltr\">EFG Hermes acted as the sole financial advisor, bookrunner, and underwriter. ALC-Alieldean Weshahi &amp; Partners acted as the transaction\u2019s legal advisor, while KPMG acted as the transaction\u2019s auditor. Arab African International Bank (AAIB), Commercial International Bank (CIB), and Al Baraka Capital acted as the underwriting banks. Al Baraka Bank and Ahli United Bank were subscribers to the issuance. AAIB was also the transaction\u2019s custodian.<\/p>\n\n\n\n<p dir=\"ltr\"><strong>\u2014Ends\u2014<\/strong><\/p>\n\n\n\n<p dir=\"ltr\"><strong>About EFG Holding<\/strong><\/p>\n\n\n\n<p dir=\"ltr\">EFG Holding (EGX: HRHO.CA \u2013 LSE: EFGD) is a trailblazing financial institution that boasts a remarkable 40-year legacy of success in 12 countries spanning four continents. Operating within three distinct verticals \u2014 the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (aiBANK) \u2014 the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes.<\/p>\n\n\n\n<p dir=\"ltr\">EFG Hermes, the leading investment bank in Frontier and Emerging Markets (FEM), offers an extensive array of financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a microfinance player, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a versatile financial technology powerhouse, PayTabs Egypt, a digital payment platform, as well as Bedaya for mortgage finance and Kaf for insurance. Furthermore, the company delivers commercial banking solutions through aiBANK, a leading provider of integrated retail, corporate, and Islamic banking products in Egypt.&nbsp;<\/p>\n\n\n\n<p dir=\"ltr\">Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Pakistan | UK | Kenya | USA | Bangladesh | Nigeria | Singapore&nbsp;<\/p>\n\n\n\n<p dir=\"ltr\"><strong>Learn more about us at www.efghldg.com<br>For further information, please contact:<\/strong><\/p>\n\n\n\n<p dir=\"ltr\"><strong>May El Gammal<br>Group Chief Marketing &amp; Communications Officer of EFG Holding<br>melgammal@efg-hermes.com<\/strong><\/p>\n\n\n\n<p dir=\"ltr\"><strong>Omar Salama<br>Communications Manager of EFG Holding<br>osalama@efghldg.com<\/strong><\/p>\n\n\n\n<p dir=\"ltr\"><strong>The EFG Holding Public Relations Team<br>PublicRelations@efghldg.com<\/strong><\/p>\n\n\n\n<p dir=\"ltr\"><strong>Note on Forward-Looking Statements\u00a0<br><\/strong>In this press release, EFG Holding may make forward-looking statements, including, for example, statements about management\u2019s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Holding\u2019s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management\u2019s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current,\u00a0pending,\u00a0and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.<\/p>\n\n\n\n<p dir=\"ltr\"><strong>About Palm Hills Developments<br><\/strong>Palm Hills Developments (&#8220;PHD&#8221;), a leading real estate developer in Egypt, is a joint stock company established in 1997. The Company builds integrated communities and has one of the most diversified land bank portfolios, spreading over 30.6 million square meters (&#8220;sqm&#8221;). PHD\u2019s product offerings include primary homes in West Cairo, East Cairo and Alexandria, as well as secondary homes on the North Coast (Mediterranean Sea).<br>As at end of 9M2023, PHD delivered more than 14,700 units within its developments. Today, PHD has several projects under development in West Cairo, East Cairo, North Coast and Alexandria, in addition to co-development projects, translating into a sales backlog of c.EGP 35 billion. PHD is listed and traded on the Egyptian Stock Exchange under the symbol &#8220;PHDC.CA&#8221;. For more information, please visit: https:\/\/ir.palmhillsdevelopments.com\/ https:\/\/ir.palmhillsdevelopments.com\/<\/p>\n\n\n\n<p dir=\"ltr\"><strong>Investor Relations Contacts<\/strong><\/p>\n\n\n\n<p dir=\"ltr\"><strong>Radwa Abu Elnaga<br>Tel +202 35351200, Extensions 1504<br>Investor.relations@phdint.com<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>EFG Hermes, the leading investment bank in Frontier and Emerging Markets (FEM) under EFG Holding and Palm Hills Developments (PHD), a leading real estate developer in Egypt jointly announced today the successful closing of an EGP 421 million securitized bond, the second issuance in a newly approved EGP 5 billion program.The issuance is structured as &hellip;<\/p>\n","protected":false},"author":3,"featured_media":201846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[263],"tags":[],"class_list":["post-201845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arab-telegraph-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EFG Hermes Closes Palm Hills Developments Securitization Issuance Worth EGP 421 Million as Part of its EGP 5 Billion Issuance Program - Arab Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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