EFG Hermes Corp-Solutions plans to take out EGP 2 bn in loans this year

EFG Hermes Corp-Solutions is negotiating with banks to borrow EGP 2 bn in 2022, CEO Talal Elayat told Al Mal last week. The funding will be directed at supporting the company’s leasing and factoring activities. Corp-Solutions lent around EGP 8 bn last year, swelling the company’s current portfolio to around EGP 10 bn, he said.

Securitized bonds worth EGP 1 bn are also in the works this year, Elayat told Al Mal, without putting a timeframe on the issuance. Elayat told the newspaper in October that the issuance would take place in early 2022. The firm closed its first EGP 790 mn securitized bond issuance in the last week of 2021.