{"id":558233,"date":"2021-08-02T04:13:55","date_gmt":"2021-08-02T04:13:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/02\/securitization-market-continues-to-heat-up\/"},"modified":"2021-08-02T04:13:55","modified_gmt":"2021-08-02T04:13:55","slug":"securitization-market-continues-to-heat-up","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/02\/securitization-market-continues-to-heat-up\/","title":{"rendered":"Securitization market continues to heat up"},"content":{"rendered":"

<\/a> Egypt\u2019s securitization market shows no sign of sliding into summer vacation. <\/strong>After a slow start to the year, upmarket developer SODIC<\/a>, Palm Hills Development<\/a>, Premium International<\/a> and Arabia Investments Holding subsidiary Rawaj<\/a> have all closed issuances of asset-backed securities this year.<\/p>\n

And the pipeline looks deep: <\/strong>SODIC<\/a>, EFG Hermes<\/a>, Contact Financial Holding<\/a>, Edge Holding<\/a> and Raya\u2019s Aman have been<\/a> reported as having plans to securitize parts of their portfolios.<\/p>\n

That\u2019s just one corner of the debt market: <\/strong>None of this takes into account the growing interest in the country\u2019s sukuk market<\/a> or the potential securitization of off-balance sheet cashflows<\/a>.<\/p>\n

The latest to join the fray: NUCA\u2019s <\/strong>Al Taamir for Securitization, which is in talks with <\/strong>Al<\/a><\/strong>Oula<\/a><\/strong> to manage a EGP <\/strong>650 <\/strong>mn <\/strong>securitized bond issuanc<\/strong>e<\/strong> on behalf of the leasing company, Al Taamir Chairman Mazen Hassan told Enterprise yesterday. The transaction isn\u2019t a sure thing \u2014 it still needs approval of Al Oula\u2019s board, he said. Hassan denied a report in the domestic press<\/a> that quoted him saying Al Taamir is in talks with eight companies to manage sales worth EGP 5.5 bn. Al Taamir is negotiating with only three companies \u2014 Al Oula, Palm Hills and Mountain View \u2014 while declining to give us a total value.<\/p>\n

There\u2019s no word on when the Palm Hills issuance will take place:<\/strong> Originally slated for 1Q2021, the EGP 650 mn issuance<\/a> will be triggered by Palm Hills when it hits an unspecified milestone, Hassan said, declining to give an estimated timeframe.<\/p>\n

Al Taamir is also in talks<\/strong> with Mountain View<\/strong>, Hassan earlier told the local press (<\/a>pdf<\/a>)<\/a>. He declined to disclose the value of the transaction when we asked yesterday. The domestic press had quoted Hassan as saying that Al Taamir was also in talks with City Edge, Misr Italia, Redcon Construction, and Hyde Park Developments, which Hassan denied yesterday.<\/p>\n

About Al Taamir:<\/strong> Al Taamir is a special purpose vehicle set up by the New Urban Communities Authority in 2008 to help securitize its portfolio of land sale contracts and raise finance for the establishment of new cities.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s securitization market shows no sign of sliding into summer vacation. After a slow start to the year, upmarket developer SODIC, Palm Hills Development, Premium International and Arabia Investments Holding subsidiary Rawaj have all closed issuances of asset-backed securities this year. And the pipeline looks deep: SODIC, EFG Hermes, Contact Financial Holding, Edge Holding and […]<\/p>\n","protected":false},"author":1,"featured_media":558234,"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":[82,7106,88,2500,72,85],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-bonds","tag-debt","tag-debt-watch","tag-el-taamir-securitization","tag-enterpriseam","tag-securitization","wpautop","entry"],"acf":{"mongo_id":"ebca392b-370d-49c8-a6f7-42d785742cf7","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/47.jpg","photo_position":"above","related_issue":[558229],"teaser":"","voice_url":""},"yoast_head":"\nSecuritization market continues to heat up - 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\/08\/02\/securitization-market-continues-to-heat-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Securitization market continues to heat up\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s securitization market shows no sign of sliding into summer vacation. After a slow start to the year, upmarket developer SODIC, Palm Hills Development, Premium International and Arabia Investments Holding subsidiary Rawaj have all closed issuances of asset-backed securities this year. 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The upmarket real estate developer is finalizing final regulatory approvals and has already sent a formal request to the Financial\u2026","rel":"","context":"In "SPEED ROUND: REAL ESTATE"","block_context":{"text":"SPEED ROUND: REAL ESTATE","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566897,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/27\/sodic-closes-egp-343-mn-securitized-bond-sale\/","url_meta":{"origin":558233,"position":2},"title":"Sodic closes EGP 343 mn securitized bond sale","author":"enterpriseam admin","date":"27 July 2021","format":false,"excerpt":"Upmarket developer SODIC has closed a EGP 343 mn securitized bond sale backed by a receivables portfolio of nearly EGP 384 mn that includes future installments from 753 delivered units in Eastown Residences and Caesar, the company said in a statement (pdf). The bonds were issued in two tranches with\u2026","rel":"","context":"In "SPEED ROUND: DEBT WATCH"","block_context":{"text":"SPEED ROUND: DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/469.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564361,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/26\/debt-market-welcomes-rayas-aman\/","url_meta":{"origin":558233,"position":3},"title":"Debt market welcomes Raya\u2019s Aman","author":"enterpriseam admin","date":"26 August 2021","format":false,"excerpt":"Raya subsidiary Aman completed the issuance of EGP 585 mn in securitized bonds, according to a statement (pdf) from the National Bank of Egypt (NBE), which acted as co-lead manager on the transaction alongside our friends at CIB. While details of the sale were not noted in the statement, Raya\u2026","rel":"","context":"In "SPEED ROUND: DEBT WATCH"","block_context":{"text":"SPEED ROUND: DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/533.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564279,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/valu-plans-maiden-securitized-bond-offering\/","url_meta":{"origin":558233,"position":4},"title":"Valu plans maiden securitized bond offering","author":"enterpriseam admin","date":"22 August 2021","format":false,"excerpt":"Valu is getting into securitization: EFG Hermes subsidiary Valu is planning a maiden securitized bond issuance worth EGP 2 bn, EFG Hermes Finance CEO Walid Hassouna told Al Mal TV (watch,runtime1:06:43). The consumer finance lender could kick start the program before the end of the year with a EGP 300\u2026","rel":"","context":"In "SPEED ROUND: DEBT WATCH"","block_context":{"text":"SPEED ROUND: DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/492.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564087,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/corps-solutions-plans-egp-500-700-mn-securitized-bond-sale-in-4q2021\/","url_meta":{"origin":558233,"position":5},"title":"Corps-Solutions plans EGP 500-700 mn securitized bond sale in 4Q2021","author":"enterpriseam admin","date":"8 August 2021","format":false,"excerpt":"Corps-Solutions securitized bond sale could reach EGP 700 mn: EFG Hermes Corp-Solutions plans to raise EGP 500-700 mn from a securitized bond issuance in 4Q2021, CEO Talal Elayat told Hapi Journal. 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