{"id":559402,"date":"2021-01-20T03:39:21","date_gmt":"2021-01-20T03:39:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/everybody-loves-debt\/"},"modified":"2021-01-20T03:39:21","modified_gmt":"2021-01-20T03:39:21","slug":"everybody-loves-debt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/everybody-loves-debt\/","title":{"rendered":"Everybody loves debt\u2026"},"content":{"rendered":"

<\/a> A<\/strong> fresh EGP 170 mn securitized bond issuance EFG Hermes is looking to take to<\/strong> market should soon get regulatory approval<\/strong>, Financial Regulatory Authority head Mohamed Omran said yesterday, according to Hapi Journal<\/a>. The FRA hopes to increase debt instrument issuances by 15-20%, said Omran, particularly considering the increased recent surge in securitized bond issuances.<\/p>\n

WHO\u2019S IN THE MARKET FOR DEBT? <\/strong><\/p>\n

El Nasr wants money for its EV venture:<\/strong> El Nasr Automotive is in negotiations for a EGP 1.4 bn syndicated loan from four banks to finance its electric vehicle assembly facility, El Nasr Managing Director Hany El Kholy tells Al Mal<\/a>. The company is seeking funds to cover 70% of the factory\u2019s costs from CIB, the National Bank of Egypt, Banque Misr, and Banque du Caire. El Nasr was said to have been in negotiations<\/a> in November with a syndicate of local banks for a EGP 2 bn facility.<\/p>\n

This comes a day after the company <\/strong>signed the final contracts<\/a><\/strong> with <\/strong>China\u2019s Dongfeng<\/a><\/strong>. <\/strong>The two companies plan to eventually produce 25k electric vehicles per year at an expected cost of some EGP 2.5 bn.<\/p>\n

Banque Misr has signed an agreement with the European Investment Bank<\/strong> for the first EUR 425 mn tranche of a EUR 750 mn<\/a>loan<\/a> for on-lending to SMEs, the bank said in a statement<\/a>(pdf)<\/a>. The proceeds will be used to provide six-year loans to help SMEs cope with the repercussions of covid-19.<\/p>\n

Palm Hills Development\u2019s board of directors signed off on a EGP 1.28 bn loan<\/strong> from a syndicate of banks led by the National Bank of Egypt for funding of the company\u2019s The Crown development, according to an EGX disclosure (pdf)<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

A fresh EGP 170 mn securitized bond issuance EFG Hermes is looking to take to market should soon get regulatory approval, Financial Regulatory Authority head Mohamed Omran said yesterday, according to Hapi Journal. The FRA hopes to increase debt instrument issuances by 15-20%, said Omran, particularly considering the increased recent surge in securitized bond issuances. […]<\/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":[726,576,240,88,419,84,250,72,760],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559402","post","type-post","status-publish","format-standard","hentry","category-debt-watch","tag-banque-du-caire","tag-banque-misr","tag-cib","tag-debt-watch","tag-dongfeng","tag-efg-hermes","tag-el-nasr-automotive","tag-enterpriseam","tag-european-investment-bank","wpautop","entry"],"acf":{"mongo_id":"b39e95c7-8c3b-4003-bdd4-2610233bc4bb","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[559391],"teaser":"","voice_url":""},"yoast_head":"\nEverybody loves debt\u2026 - 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\/01\/20\/everybody-loves-debt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Everybody loves debt\u2026\" \/>\n<meta property=\"og:description\" content=\"A fresh EGP 170 mn securitized bond issuance EFG Hermes is looking to take to market should soon get regulatory approval, Financial Regulatory Authority head Mohamed Omran said yesterday, according to Hapi Journal. 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The four tranches were rated AA+, AA, AA- and BBB by MERIS.Who took part? Banque Misr, Banque du Caire, National Bank of Egypt, CIB, AAIB, Attijariwafa\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\/1\/26.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548068,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/25\/pioneers-properties-closes-egp-425-mn-securitized-bond-issuance\/","url_meta":{"origin":559402,"position":1},"title":"Pioneers Properties closes EGP 425 mn securitized bond issuance","author":"enterpriseam admin","date":"25 July 2022","format":false,"excerpt":"Pioneers Properties for Urban Development has closed a EGP 425 mn securitized bond issuance, the second in a wider EGP 3 bn program, according to a press release (pdf) from its financial advisor, EFG Hermes. The four-tranche issuance is backed by a EGP 613.5 mn receivables portfolio, with the tranches\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":606533,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/18\/valu-closes-egp-922-mn-securitized-bond-issuance\/","url_meta":{"origin":559402,"position":2},"title":"valU closes EGP 922 mn securitized bond issuance","author":"enterpriseam admin","date":"18 September 2023","format":false,"excerpt":"The single-tranche issuance has a 12-month tenor and a Prime 1 rating","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\/9\/1086.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559204,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/amer-tmg-tap-securitized-bond-market\/","url_meta":{"origin":559402,"position":3},"title":"Amer, TMG tap securitized bond market","author":"enterpriseam admin","date":"13 January 2021","format":false,"excerpt":"Amer, Qasatli sell EGP 700 mn of asset backed securities: EFG Hermes has closed a EGP 700 mn sale of securitized bonds on behalf of four Amer Group companies and Omar Amer\u2019s mortgage lender Qasatli, the investment bank said yesterday (pdf). The bonds were backed by EGP 911 mn of\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":609201,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/01\/efg-hermes-closes-ciras-second-future-flow-issuance\/","url_meta":{"origin":559402,"position":4},"title":"EFG Hermes closes CIRA\u2019s second future flow issuance","author":"enterpriseam admin","date":"1 November 2023","format":false,"excerpt":"The issuance is part of a larger EGP 2 bn future flow securitized bond 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\/5.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567973,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/what-to-expect-from-the-debt-market-in-early-21\/","url_meta":{"origin":559402,"position":5},"title":"What to expect from the debt market in early \u201821","author":"enterpriseam admin","date":"14 December 2020","format":false,"excerpt":"Five companies are planning seven securitized bond issuances worth a combined EGP 9.3 bn in the near future, Financial Regulatory Authority (FRA) boss Mohamed Omran said in a statement (pdf). The issuances have already been greenlit by the FRA\u2019s board of directors, but it\u2019s still unclear when exactly they\u2019ll hit\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\/2020\/12\/237.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\/559402","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=559402"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559402\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/559391"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=559402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=559402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=559402"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=559402"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=559402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}