{"id":553944,"date":"2021-12-14T03:57:05","date_gmt":"2021-12-14T03:57:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/efg-hermes-subsidiary-closes-third-tranche-of-its-bond-program\/"},"modified":"2021-12-14T03:57:05","modified_gmt":"2021-12-14T03:57:05","slug":"efg-hermes-subsidiary-closes-third-tranche-of-its-bond-program","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/efg-hermes-subsidiary-closes-third-tranche-of-its-bond-program\/","title":{"rendered":"EFG Hermes subsidiary closes third tranche of its bond program"},"content":{"rendered":"

<\/a> Hermes Securities Brokerage (HSB) has closed a EGP 550 mn securitized bond <\/strong>issuance <\/strong>managed by EFG Hermes, according to a company statement<\/a>(pdf)<\/a>. This is the third tranche in the brokerage\u2019s EGP 2 bn two-year program, and the first it has issued this year. The one-year securities were rated BBB+ with a stable outlook by ratings agency MERIS.<\/p>\n

The corporate bond program: <\/strong>The EFG Hermes unit began the program with a EGP 400 mn issuance<\/a> of one-year bonds in December 2019, ending a decade-long dry spell<\/a> for corporate bond issuances. New regulations<\/a> introduced in 2018 now allow joint-stock and limited liability companies, banks, financial institutions, and SMEs to sell short-term debt instruments with maturities of less than two years to retail and institutional investors. Then it sold a second EGP 500 mn tranche of unsecuritized bonds late last year<\/a>.<\/p>\n

Advisors:<\/strong> EFG Hermes acted as the financial advisor, transaction manager, and bookrunner, underwriter and arranger. Zulficar & Partners provided legal counsel.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hermes Securities Brokerage (HSB) has closed a EGP 550 mn securitized bond issuance managed by EFG Hermes, according to a company statement(pdf). This is the third tranche in the brokerage\u2019s EGP 2 bn two-year program, and the first it has issued this year. The one-year securities were rated BBB+ with a stable outlook by ratings […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[88,84,72,85],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-553944","post","type-post","status-publish","format-standard","hentry","category-debt-watch","tag-debt-watch","tag-efg-hermes","tag-enterpriseam","tag-securitization","wpautop","entry"],"acf":{"mongo_id":"08879fc8-157b-49f2-8f67-88ff43bba602","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[553935],"teaser":"","voice_url":""},"yoast_head":"\nEFG Hermes subsidiary closes third tranche of its bond program - 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\/2021\/12\/14\/efg-hermes-subsidiary-closes-third-tranche-of-its-bond-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG Hermes subsidiary closes third tranche of its bond program\" \/>\n<meta property=\"og:description\" content=\"Hermes Securities Brokerage (HSB) has closed a EGP 550 mn securitized bond issuance managed by EFG Hermes, according to a company statement(pdf). 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