{"id":547665,"date":"2022-07-03T04:23:00","date_gmt":"2022-07-03T04:23:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/03\/al-ahly-pharos-closes-egp-1-2-bn-securitization-for-talaat-moustafa-group\/"},"modified":"2022-07-03T04:23:00","modified_gmt":"2022-07-03T04:23:00","slug":"al-ahly-pharos-closes-egp-1-2-bn-securitization-for-talaat-moustafa-group","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/03\/al-ahly-pharos-closes-egp-1-2-bn-securitization-for-talaat-moustafa-group\/","title":{"rendered":"Al Ahly Pharos closes EGP 1.2 bn securitization for Talaat Moustafa Group"},"content":{"rendered":"

Talaat Moustafa Group (TMG) has sold E<\/strong>GP 1.17 bn worth of securitized bonds <\/strong>in an issuance managed by Al Ahly Pharos, according to a statement (pdf)<\/a> last week. The three-tranche issuance was backed by a EGP 1.73 bn portfolio of receivables from real estate units transferred from the Arab Company for Projects and Urban Development, a TMG subsidiary. This is the first bond issuance to be backed by a portfolio of units located in the New Administrative Capital, Al Ahly Pharos CEO Ahmed Heidar said.<\/p>\n

There\u2019s more in the pipeline: <\/strong>Al Ahly Pharos is currently working to issue bond and sukuk issuances worth more than EGP 15 bn in total by the beginning of next year, Managing Director Amir Sherif said in the statement. The firm has already concluded three issuances worth more than EGP 3.5 bn since the beginning of the year, he added.<\/p>\n

Who bought in? <\/strong>Twenty investors subscribed to the offering, Sherif said, without disclosing their names. The National Bank of Egypt (NBE), the Arab African International Bank, EFG Hermes Asset Management and Azimut Egypt were among the investors, according to Hapi Journal<\/a>.<\/p>\n

Advisors:<\/strong> Al Ahly Pharos, the brokerage arm of NBE, acted as primary lead manager, arranger, promoter, underwriter and financial advisor, while NBE and Arab African Bank are co-guarantors of the issuance. Ernst & Young acted as auditor while Dreny and Partners provided legal counsel. Meris provided the credit rating.<\/p>\n","protected":false},"excerpt":{"rendered":"

Talaat Moustafa Group (TMG) has sold EGP 1.17 bn worth of securitized bonds in an issuance managed by Al Ahly Pharos, according to a statement (pdf) last week. The three-tranche issuance was backed by a EGP 1.73 bn portfolio of receivables from real estate units transferred from the Arab Company for Projects and Urban Development, […]<\/p>\n","protected":false},"author":1,"featured_media":547666,"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":[813,88,72,83,85,1517],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-al-ahly-pharos","tag-debt-watch","tag-enterpriseam","tag-real-estate","tag-securitization","tag-talaat-moustafa-group","wpautop","entry"],"acf":{"mongo_id":"85375a0b-0605-439a-9e70-5bcc5ec20023","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/7\/84.jpg","photo_position":"above","related_issue":[547651],"teaser":"","voice_url":""},"yoast_head":"\nAl Ahly Pharos closes EGP 1.2 bn securitization for Talaat Moustafa Group - 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\/07\/03\/al-ahly-pharos-closes-egp-1-2-bn-securitization-for-talaat-moustafa-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Al Ahly Pharos closes EGP 1.2 bn securitization for Talaat Moustafa Group\" \/>\n<meta property=\"og:description\" content=\"Talaat Moustafa Group (TMG) has sold EGP 1.17 bn worth of securitized bonds in an issuance managed by Al Ahly Pharos, according to a statement (pdf) last week. 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EGP 13 bn securitization program","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1298.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588466,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/12\/enmaa-finance-closes-its-first-egp-759-mn-securitization-issuance\/","url_meta":{"origin":547665,"position":1},"title":"Enmaa Finance closes its first EGP 759 mn securitization issuance","author":"enterpriseam admin","date":"12 June 2023","format":false,"excerpt":"The securitization issuance is Enmaa\u2019s first","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT 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The three-tranche issuance, which was backed by EGP 910 mn in leasing contract receivables, was\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/244.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578674,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/gb-lease-issues-egp-1-7-bn-in-securitized-bonds\/","url_meta":{"origin":547665,"position":4},"title":"GB Lease issues EGP 1.7 bn in securitized bonds","author":"enterpriseam admin","date":"10 January 2023","format":false,"excerpt":"GB Auto subsidiary GB Lease has closed an EGP 1.7 bn securitized bond issuance, according to a joint statement (pdf) by Al Ahly Pharos and CIB. The two institutions were joint financial advisors on the transaction alongside the National Bank of Egypt (NBE).The details: The three-tranche issuance is backed by\u2026","rel":"","context":"In "Debt"","block_context":{"text":"Debt","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/debt\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/142.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":610851,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/28\/al-ahly-leasing-and-factoring-raises-egp-1-1-bn-from-securitized-bond-issuance\/","url_meta":{"origin":547665,"position":5},"title":"Al Ahly Leasing and Factoring raises EGP 1.1 bn from securitized bond issuance","author":"enterpriseam admin","date":"28 November 2023","format":false,"excerpt":"This is the first issuance in Al Ahly Securitization Company\u2019s third securitization program","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1514.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\/547665","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=547665"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547665\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547651"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/547666"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=547665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=547665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=547665"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=547665"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=547665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}