EFG Hermes closes short-term note issuance for Hermes Securities Brokerage

EFG Hermes Holding has issued an EGP 250 mn senior unsecured short-term note for its subsidiary Hermes Securities Brokerage (HSB), according toacompany statement (pdf). This is the fourth issuance for the brokerage and the first in its newly-approved EGP 2 bn two-year program.

About the issuance: The 12-month bullet note will carry a fixed rate coupon paid at the end of the bond, with proceeds aimed at diversifying HSB’s funding sources.

EFG Hermes recently concluded advisory on several debt issuances,including securitizations for its subsidiary valU, Premium Card, Bedaya Mortgage Finance, and Al Oula Mortgage Finance in March.

Advisors: EFG Hermes acted as sole financial advisor, sole transaction manager, and bookrunner, underwriter and arranger.