{"id":556012,"date":"2021-10-06T03:54:17","date_gmt":"2021-10-06T03:54:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/efg-hermes-signs-egp-750-mn-sale-and-leaseback-agreement-with-misr-italia\/"},"modified":"2021-10-06T03:54:17","modified_gmt":"2021-10-06T03:54:17","slug":"efg-hermes-signs-egp-750-mn-sale-and-leaseback-agreement-with-misr-italia","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/efg-hermes-signs-egp-750-mn-sale-and-leaseback-agreement-with-misr-italia\/","title":{"rendered":"EFG Hermes signs EGP 750 mn sale and leaseback agreement with Misr Italia"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>EFG Hermes\u2019 leasing and factoring arm has signed an EGP 750 mn sale and <\/strong><strong>leaseback agreement with Misr Italia Properties<\/strong> to refinance its Garden 8 Mall in New Cairo, EFG Hermes Corp-Solutions announced in a <a href=\"https:\/\/ent.news\/2021\/10\/EFG-Corp-Solutions-x-Misr-Italia-English.pdf\">statement (pdf)<\/a>.<\/p>\n<p><strong>Misr Italia will direct the funds to other projects: <\/strong>The money raised through the sale and leaseback of Garden 8 Mall will be directed to expansion in \u201chigher growth areas of the business,\u201d according to Misr Italia CEO Mohamed Hany El Assal. He noted that the advantage of this kind of financing is that the company can \u201cgenerate significant proceeds while essentially maintaining long-term control of value-generating facilities.\u201d The statement did not specify the duration of the lease agreement.<\/p>\n<p><strong>EFG likes commercial property:<\/strong> The leaseback agreement comes as EFG Hermes Corp-Solutions looks to expand its business in commercial real estate financing. \u201cThe commercial real estate sector in Egypt continues to benefit from strong demand driven by solid retail growth,\u201d company CEO Talal Elayat said in the statement, describing the agreement with Misr Italia as a \u201ccompelling [chance] for us to add high-quality, income-generating assets to our portfolio.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EFG Hermes\u2019 leasing and factoring arm has signed an EGP 750 mn sale and leaseback agreement with Misr Italia Properties to refinance its Garden 8 Mall in New Cairo, EFG Hermes Corp-Solutions announced in a statement (pdf). Misr Italia will direct the funds to other projects: The money raised through the sale and leaseback of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":556013,"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":[9262],"tags":[84,72,593,242,987,3131,595,338],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-556012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-non-bank-finance","tag-efg-hermes","tag-enterpriseam","tag-factoring","tag-leasing","tag-misr-italia-properties","tag-non-bank-finance","tag-non-banking-financial-services","tag-retail","wpautop","entry"],"acf":{"mongo_id":"850d2216-0b24-4ff5-9248-017e0d9c3a42","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/10\/84.jpg","photo_position":"above","related_issue":[556003],"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>EFG Hermes signs EGP 750 mn sale and leaseback agreement with Misr Italia - 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\/10\/06\/efg-hermes-signs-egp-750-mn-sale-and-leaseback-agreement-with-misr-italia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG Hermes signs EGP 750 mn sale and leaseback agreement with Misr Italia\" \/>\n<meta property=\"og:description\" content=\"EFG Hermes\u2019 leasing and factoring arm has signed an EGP 750 mn sale and leaseback agreement with Misr Italia Properties to refinance its Garden 8 Mall in New Cairo, EFG Hermes Corp-Solutions announced in a statement (pdf). 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The agreement is for the sale and leaseback of MNHD\u2019s Cobalt district in its Taj City\u2026","rel":"","context":"In &quot;NON-BANK FINANCE&quot;","block_context":{"text":"NON-BANK FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/category\/non-bank-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/493.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548486,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/10\/efg-hermes-signs-egp-750-mn-sale-leaseback-agreement-with-marakez\/","url_meta":{"origin":556012,"position":1},"title":"EFG Hermes signs EGP 750 mn sale + leaseback agreement with Marakez","author":"enterpriseam admin","date":"10 August 2022","format":false,"excerpt":"EFG Hermes\u2019 leasing and factoring arm has signed an EGP 750 mn sale and leaseback agreement with real estate developer Marakez to refinance the Mall of Arabia in Sixth of October, EFG Hermes announced in a statement (pdf). The two-tranche transaction is part of a wider EGP 2.25 bn financing\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\/8\/202.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544574,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/10\/efg-hermes-signs-egp-600-mn-sale-and-leaseback-agreement-with-lmd\/","url_meta":{"origin":556012,"position":2},"title":"EFG Hermes signs EGP 600 mn sale and leaseback agreement with LMD","author":"enterpriseam admin","date":"10 March 2022","format":false,"excerpt":"EFG Hermes Corp-Solutions has signed a EGP 600 mn sale and leaseback agreement with real estate developer LMD to finance its multi-purpose 3\u2019Sixty project in New Cairo, it announced in a press release (pdf) yesterday. The developer received the funding in two equal tranches, which were disbursed in January and\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\/3\/126.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":556012,"position":3},"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":578520,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/misr-italia-closes-second-securitized-bond-issuance\/","url_meta":{"origin":556012,"position":4},"title":"Misr Italia closes second securitized bond issuance","author":"enterpriseam admin","date":"3 January 2023","format":false,"excerpt":"Misr Italia Properties has closed its second EGP 986 mn securitized bond issuance, transaction advisor EFG Hermes said in a statement (pdf) yesterday. 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":544499,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/","url_meta":{"origin":556012,"position":5},"title":"Misr Italia eyes EGP 700 mn securitized bond sale in 4Q 2022","author":"enterpriseam admin","date":"7 March 2022","format":false,"excerpt":"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\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\/3\/78.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\/556012","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=556012"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556012\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/556003"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/556013"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=556012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=556012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=556012"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=556012"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=556012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}