{"id":542519,"date":"2022-01-02T04:09:31","date_gmt":"2022-01-02T04:09:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/"},"modified":"2022-01-02T04:09:31","modified_gmt":"2022-01-02T04:09:31","slug":"the-end-of-year-dash-to-the-securitization-finish-line","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/","title":{"rendered":"The end of year dash to the securitization finish line"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Companies raised a combined total of nearly EGP 1.75 bn in three <\/strong><strong>securitizations last week <\/strong>as the securitized bond market saw a flurry of activity to close out the year.<\/p>\n<p><strong>By our count, this brings the total number of securitized bond issuances that went to <\/strong><strong>market last year to <\/strong><strong>19, with a combined value of EGP 15.8 bn<\/strong><strong>.<\/strong> We expect a few more issuances to close soon, as the Financial Regulatory Authority <a href=\"https:\/\/ent.news\/2021\/12\/FRA-approval-of-new-EGX-listings.pdf\">said late last month (pdf)<\/a> it would approve 11 sales worth a combined EGP 11.5 bn before the end of 2021.<\/p>\n<p><strong>EFG Hermes Corp Solutions closed its first EGP 790 mn securitized bond issuance last <\/strong><strong>week<\/strong>, part of a wider EGP 3 bn program, EFG Hermes said in a <a href=\"https:\/\/ent.news\/2021\/12\/EFG-Hermes-IB-Corp-Solutions-Securitization-PR-English.docx.pdf\">statement (pdf)<\/a> on Thursday. The issuance is backed by a EGP 815.1 mn receivables portfolio covering 47 lease contracts. <strong>EFG Hermes<\/strong> was the sole financial advisor, sole transaction manager and book runner, underwriter, and sole arranger on the issuance.<\/p>\n<p><strong>Pioneers Properties closes EGP 627.5 mn securitized bond issuance:<\/strong> EFG Hermes was also the sole financial advisor, sole transaction manager and book runner, underwriter, and sole arranger on a EGP 627.5 mn securitized bond issuance on behalf of Pioneers Properties for Urban Development on Thursday, according to a <a href=\"https:\/\/ent.news\/2021\/12\/EFG-Hermes-x-Pioneers-Properties-Securitization-English.pdf\">stat<\/a><a href=\"https:\/\/ent.news\/2021\/12\/EFG-Hermes-x-Pioneers-Properties-Securitization-English.pdf\">ement (pdf)<\/a>. The issuance, which was the first tranche of Pioneers\u2019 EGP 3 bn bond program, is backed by a EGP 798.3 mn receivables portfolio, the statement notes.<\/p>\n<p><strong><a href=\"http:\/\/rawaj-finance.com\/\">Rawaj Consumer Finance<\/a><\/strong><strong> also closed a EGP 305.5 mn securitized bond issuance<\/strong>, according to a <a href=\"https:\/\/ent.news\/2021\/12\/Rawaj-Securitized-bond-issuance.pdf\">press release (pdf)<\/a> on Thursday. The issuance is backed by account receivables from Tawriq for Securitization. Misr Capital was sole financial advisor, bookrunner, arranger, and general coordinator for the transaction. Misr Capital, Banque Misr, National Bank of Egypt, and Arab African International Bank acted as underwriters for the issuance. Dreny & Partners acted as legal advisors and Ernst & Young as auditor.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Companies raised a combined total of nearly EGP 1.75 bn in three securitizations last week as the securitized bond market saw a flurry of activity to close out the year. By our count, this brings the total number of securitized bond issuances that went to market last year to 19, with a combined value of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":542520,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7274],"tags":[82,88,84,72,86,87,83,85],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-bonds","tag-debt-watch","tag-efg-hermes","tag-enterpriseam","tag-misr-capital","tag-pioneers-properties","tag-real-estate","tag-securitization","wpautop","entry"],"acf":{"mongo_id":"21504d18-3879-4c04-8bae-6aa46fd4c18c","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/1\/5.jpg","photo_position":"above","related_issue":[542511],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The end of year dash to the securitization finish line - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The end of year dash to the securitization finish line\" \/>\n<meta property=\"og:description\" content=\"Companies raised a combined total of nearly EGP 1.75 bn in three securitizations last week as the securitized bond market saw a flurry of activity to close out the year. By our count, this brings the total number of securitized bond issuances that went to market last year to 19, with a combined value of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-02T04:09:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/5.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"The end of year dash to the securitization finish line\",\"datePublished\":\"2022-01-02T04:09:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/\"},\"wordCount\":307,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/5.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Bonds\",\"debt watch\",\"EFG Hermes\",\"EnterpriseAM\",\"Misr Capital\",\"Pioneers Properties\",\"real estate\",\"securitization\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/\",\"name\":\"The end of year dash to the securitization finish line - 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The bond is backed by a receivables portfolio of EGP 373.9 mn and consists of three fixed-interest tranches rated A through\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/140.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":612562,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/25\/valu-phd-aur-leasing-close-securitization-bond-issuances\/","url_meta":{"origin":542519,"position":2},"title":"Valu, PHD, Aur Leasing close securitization bond issuances","author":"enterpriseam admin","date":"25 December 2023","format":false,"excerpt":"This brings the total value of securitized bonds issued in Egypt this year to EGP 86 bn","rel":"","context":"In \"Al Ahly Pharos\"","block_context":{"text":"Al Ahly Pharos","link":"https:\/\/enterpriseam.com\/egypt\/tag\/al-ahly-pharos\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1547.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542600,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/05\/gb-leases-returns-to-securitization-market-with-egp-4-3-bn-sale\/","url_meta":{"origin":542519,"position":3},"title":"GB Leases returns to securitization market with EGP 4.3 bn sale","author":"enterpriseam admin","date":"5 January 2022","format":false,"excerpt":"GB Lease has completed the sale of EGP 4.3 bn of securitized bonds to investors, according to a statement (pdf) from CIB, which worked on the transaction. The leasing arm of GB Auto sold the securities in two separate issuances with tranches rated A through AA+. Abu Dhabi Commercial Bank\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/77.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":655385,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/valu-closes-egp-667-mn-securitized-bond-issuance\/","url_meta":{"origin":542519,"position":4},"title":"Valu closes EGP 667 mn securitized bond issuance","author":"enterpriseam admin","date":"18 November 2024","format":false,"excerpt":"The issuance is the second under a new EGP 16 bn securitization program","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1612.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549985,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/more-securitized-debt-coming\/","url_meta":{"origin":542519,"position":5},"title":"More securitized debt coming","author":"enterpriseam admin","date":"10 October 2022","format":false,"excerpt":"MNHD to tap securitization market before end of 1H 2023: EGX-listed Madinet Nasr Housing and Development (MNHD) is looking to take the second issuance of its three-year, EGP 3 bn securitization program to market before the end of 1H 2023, MNHD CEO Abdallah Sallam told Bloomberg Asharq (watch, runtime: 1:35).\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/174.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542519","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=542519"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542519\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542511"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/542520"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=542519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=542519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=542519"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=542519"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=542519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}