{"id":544499,"date":"2022-03-07T04:00:22","date_gmt":"2022-03-07T04:00:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/"},"modified":"2022-03-07T04:00:22","modified_gmt":"2022-03-07T04:00:22","slug":"misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/","title":{"rendered":"Misr Italia eyes EGP 700 mn securitized bond sale in 4Q 2022"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a><strong> Misr Italia Properties is looking to issue <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32ba4863-0863-403d-85e7-9732b18499b6\">securitized bonds<\/a><\/strong><strong> worth EGP 700 mn<\/strong> <strong>during 4Q2022<\/strong>, <a href=\"https:\/\/bit.ly\/3pIQpQK\">Al Shorouk<\/a> quoted CEO and Managing Director Mohamed Hany El Assal as saying. The issuance would be the second tranche of the property developer\u2019s EGP 2.5 bn securitization program. The first <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/efbbdfcf-0c4c-4fe1-85ed-1b68623ff028\">EGP 794 mn tranche<\/a> closed late last month.<\/p>\n<p><strong>The company is also in talks with several banks for an EGP 1.2 bn loan<\/strong> alongside the securitization, El Assal reportedly said, adding that our friends at EFG Hermes is advising on both the potential loan and the securitization.<\/p>\n<p><strong>OTHER DEBT NEWS-<\/strong> Palm Hills Developments (PHD) is taking a EGP 3.25 bn sukuk issuance to market within the next three weeks, <a href=\"https:\/\/alborsaanews.com\/2022\/03\/06\/1516806\">Al Borsa<\/a> reported yesterday, after the company\u2019s board of directors gave its go-ahead <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/325dd244-d50f-4b80-9044-1eceaae2da41\">last week<\/a>. The sale, which would mark Egypt\u2019s first corporate sukuk of 2022, will finance the real estate developer\u2019s Badya project.<\/p>\n<p><strong>Advisors: <\/strong>The sale will be managed by Contact Financial Holdings\u2019 sukuk arm, and the company has appointed Banque Misr and its investment arm Misr Capital as underwriters and promoters for the issuance. Our friends at ALC Alieldean Weshahi & Partners are legal advisors, while KPMG Hazem Hassan is serving as auditor.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Misr Italia Properties is looking to issue securitized bonds worth EGP 700 mn during 4Q2022, Al Shorouk quoted CEO and Managing Director Mohamed Hany El Assal as saying. The issuance would be the second tranche of the property developer\u2019s EGP 2.5 bn securitization program. The first EGP 794 mn tranche closed late last month. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":544500,"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":[88,84,72,987,85],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-efg-hermes","tag-enterpriseam","tag-misr-italia-properties","tag-securitization","wpautop","entry"],"acf":{"mongo_id":"9907d376-61e8-4f64-a0e0-ebd2f032057d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/3\/78.jpg","photo_position":"above","related_issue":[544489],"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>Misr Italia eyes EGP 700 mn securitized bond sale in 4Q 2022 - 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\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Misr Italia eyes EGP 700 mn securitized bond sale in 4Q 2022\" \/>\n<meta property=\"og:description\" content=\"Misr Italia Properties is looking to issue securitized bonds worth EGP 700 mn during 4Q2022, Al Shorouk quoted CEO and Managing Director Mohamed Hany El Assal as saying. The issuance would be the second tranche of the property developer\u2019s EGP 2.5 bn securitization program. The first EGP 794 mn tranche closed late last month. The [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-07T04:00:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/78.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\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Misr Italia eyes EGP 700 mn securitized bond sale in 4Q 2022\",\"datePublished\":\"2022-03-07T04:00:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/\"},\"wordCount\":207,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/78.jpg?fit=%2C&ssl=1\",\"keywords\":[\"debt watch\",\"EFG Hermes\",\"EnterpriseAM\",\"Misr Italia Properties\",\"securitization\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/\",\"name\":\"Misr Italia eyes EGP 700 mn securitized bond sale in 4Q 2022 - 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The details: The issuance is backed by a receivables portfolio from two of the real estate developer\u2019s subsidiaries. Its three tranches received ratings ranging from AA+ to\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\/2023\/1\/38.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543833,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/21\/misr-italia-issues-egp-794-mn-securitized-bond-raya-eyes-egp-2-bn-securitization-this-year\/","url_meta":{"origin":544499,"position":1},"title":"Misr Italia issues EGP 794 mn securitized bond + Raya eyes EGP 2 bn securitization this year","author":"enterpriseam admin","date":"21 February 2022","format":false,"excerpt":"Misr Italia Properties has closed its first EGP 794 mn issuance as part of an EGP 2.5 bn securitization program, according to a statement (pdf) yesterday from EFG Hermes, which advised on the transaction. The bond is backed by a receivables portfolio of around EGP 1 bn by two of\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\/2\/291.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542519,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/the-end-of-year-dash-to-the-securitization-finish-line\/","url_meta":{"origin":544499,"position":2},"title":"The end of year dash to the securitization finish line","author":"enterpriseam admin","date":"2 January 2022","format":false,"excerpt":"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\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\/5.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584306,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/29\/premium-card-closes-egp-200-mn-securitization\/","url_meta":{"origin":544499,"position":3},"title":"Premium Card closes EGP 200 mn securitization","author":"enterpriseam admin","date":"29 March 2023","format":false,"excerpt":"The company is in the final stretch of its EGP 2 bn 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\/2023\/3\/596.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548068,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/25\/pioneers-properties-closes-egp-425-mn-securitized-bond-issuance\/","url_meta":{"origin":544499,"position":4},"title":"Pioneers Properties closes EGP 425 mn securitized bond issuance","author":"enterpriseam admin","date":"25 July 2022","format":false,"excerpt":"Pioneers Properties for Urban Development has closed a EGP 425 mn securitized bond issuance, the second in a wider EGP 3 bn program, according to a press release (pdf) from its financial advisor, EFG Hermes. The four-tranche issuance is backed by a EGP 613.5 mn receivables portfolio, with the tranches\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":578014,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/13\/valu-issues-egp-854-5-mn-in-securitized-bonds\/","url_meta":{"origin":544499,"position":5},"title":"valU issues EGP 854.5 mn in securitized bonds","author":"enterpriseam admin","date":"13 December 2022","format":false,"excerpt":"valU closes third securitized bond issuance: EFG Hermes\u2019 consumer finance arm valU has issued EGP 854.5 mn worth of securitized bonds, according to a statement from our friends at EFG Hermes. The single 12-month tranche is the third in valU\u2019s EGP 2 bn maiden securitization program and holds a Prime-1\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\/12\/253.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\/544499","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=544499"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544499\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/544489"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/544500"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=544499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=544499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=544499"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=544499"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=544499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}