Tharwa Capital requests FRA approval for PHD’s EGP 350 mn securitized bonds issuance

Tharwa Capital has requested approval from the Financial Regulatory Authority (FRA) for Palm Hills Developments’ (PHD) EGP 300-350 mn securitized bonds issuance, Tharwa Managing Director Ayman El Sawy tells Al Borsa. PHD had decided last year to delay the issuance until after interest rates drop, and was considering upping the issuance to EGP 1.6 bn. Tharwa had been tapped to manage the issuance back in 2016, while preliminary underwriters for the transactions will be CIB and Attijariwafa Bank.