{"id":552791,"date":"2022-09-29T13:25:47","date_gmt":"2022-09-29T13:25:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/29\/this-evening-efg-corp-solutions-closes-egp-2-bn-securitized-bond-issuance-its-all-a-bit-of-a-mess-in-financial-markets-rip-coolio\/"},"modified":"2022-09-29T13:25:47","modified_gmt":"2022-09-29T13:25:47","slug":"this-evening-efg-corp-solutions-closes-egp-2-bn-securitized-bond-issuance-its-all-a-bit-of-a-mess-in-financial-markets-rip-coolio","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/29\/this-evening-efg-corp-solutions-closes-egp-2-bn-securitized-bond-issuance-its-all-a-bit-of-a-mess-in-financial-markets-rip-coolio\/","title":{"rendered":"THIS EVENING: EFG Corp-Solutions closes EGP 2 bn securitized bond issuance + \u201cIt\u2019s all a bit of a mess\u201d in financial markets + RIP Coolio"},"content":{"rendered":"

It\u2019s finally the weekend<\/strong>, wonderful people \u2014 and nearly the end of the month, too. We hope you get to unplug before we jump into a new workweek with the start of a new month.<\/p>\n

THE BIG STORY TODAY<\/strong><\/p>\n

<\/a> EFG Hermes Corp-Solutions closed a EGP 2 bn securitized bond issuance<\/strong> backed by a receivables portfolio of c. EGP 2.9 bn, EFG Hermes\u2019 investment banking division said in a press release (pdf)<\/a>. The issuance \u2014 the second for EFG Corp-Solutions \u2014 includes three tranches with ratings of AA+, AA, and A-.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

<\/a> A quote to summarize and end the week? \u201cIt\u2019s all a bit of a mess,\u201d<\/strong> as one analyst tells Reuters<\/a>. The Stoxx Europe closed down 1.5%, while the GBP is down another 0.4% and the EUR slipped 0.2% against the greenback. The UK 10-year government bond yield, which drives borrowing costs, rose 15 bps to 4.16% after crashing almost 50 bps the day before thanks to the Bank of England intervening to buy long-dated bonds<\/a>. The focus continues to be on how high central banks are willing to hike interest rates to keep up with the greenback crushing global currencies as the USD index rose back towards a 20-year high.<\/p>\n

ALSO- Scale of Nord Stream damage widens:<\/strong> Swedish coastguards have discovered a fourth gas leak on the damaged Nord Stream pipelines today, Reuters<\/a> reports, after three leaks<\/a> were found earlier this week prompting suspicions of sabotage. While neither of the Russian-owned gas pipelines were in use at the time of the leaks, stored gas has been leaking to the surface of the Baltic sea prompting climate concerns<\/a>. This is the second leak reported in Swedish waters, while another two were found in Danish waters.<\/p>\n

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Rapper Coolio (who is most widely known for his song, Gangsta\u2019s Paradise), passed<\/strong> away<\/strong> yesterday at age 59, his manager confirmed to CNN<\/a>. His cause of death remains unconfirmed, according to the Guardian<\/a>.<\/p>\n

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** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n