{"id":564044,"date":"2021-08-04T13:39:44","date_gmt":"2021-08-04T13:39:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/mercedes-local-partner-plans-egp-1-bn-bond-issuance-to-enter-ev-market\/"},"modified":"2021-08-04T13:39:44","modified_gmt":"2021-08-04T13:39:44","slug":"mercedes-local-partner-plans-egp-1-bn-bond-issuance-to-enter-ev-market","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/mercedes-local-partner-plans-egp-1-bn-bond-issuance-to-enter-ev-market\/","title":{"rendered":"Mercedes\u2019 local partner plans EGP 1 bn bond issuance to enter EV market"},"content":{"rendered":"

<\/a> A EGP 1 bn bond issuance could help Mercedes\u2019 local partner enter the EV market:<\/strong> The National Automotive Company (NATCO) plans to offer bonds worth EGP 1 bn to expand its distribution network and enter the electric-vehicle (EV) sector, the company said in an emailed statem<\/a>ent (pdf)<\/a>. The production and distribution partner of Mercedes-Benz passenger cars in Egypt said the proceeds will be invested in its distribution and after-sales services network across the country, and comes after it recently signed a new contract with the German luxury carmaker.<\/p>\n

A \u201cportion\u201d of the offering would be sold as green bonds<\/strong>, NATCO said. The capital would be deployed to finance expansion into the EV market, including setting up charging stations, manufacturing chargers, and establishing distribution and after sales spots.<\/p>\n

This would be the second issuance of corporate green bonds in Egypt:<\/strong> CIB in June debuted the climate-linked securities in the Egyptian market, selling USD 100 mn in five-year bonds<\/a> to the International Finance Corporation.<\/p>\n

Other details of the issuance are unclear:<\/strong> It\u2019s unclear how much of the issuance would be sold as green bonds. Enterprise reached out to a representative of Beltone Financial, which is serving as NATCO\u2019s financial advisor on the transaction, who said that the split has not yet been determined.<\/p>\n

Egypt has embarked on a push in recent months to get electric cars on the local market and set up the infrastructure to make them viable<\/strong>. The government is working with industry leader Infinity on a EGP 450 mn plan to install 3k c<\/a>harging stations<\/a> nationwide over the next three years, while state-owned El Nasr Automotive is working with Chinese auto firm Dongfeng to produce the country\u2019s first locally-assembled EVs by summer 2022<\/a>.<\/p>\n

EGA to produce the tech:<\/strong> NATCO would use its manufacturing arm the Egyptian German Automotive Company (EGA) to produce EV chargers, it said. EGA currently assembles Mercedes 4x4 passenger cars.<\/p>\n

IPO in the cards?<\/strong> The company is considering going public on the EGX, the statement said, without disclosing a time period or how many shares it could list on the bourse.<\/p>\n","protected":false},"excerpt":{"rendered":"

A EGP 1 bn bond issuance could help Mercedes\u2019 local partner enter the EV market: The National Automotive Company (NATCO) plans to offer bonds worth EGP 1 bn to expand its distribution network and enter the electric-vehicle (EV) sector, the company said in an emailed statement (pdf). The production and distribution partner of Mercedes-Benz passenger […]<\/p>\n","protected":false},"author":1,"featured_media":564045,"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":[10033],"tags":[144,812,102,68,633,224,1390],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-capital-markets","tag-automotive","tag-beltone-financial","tag-capital-markets","tag-egx","tag-enterprisepm","tag-green-bonds","tag-natco","wpautop","entry"],"acf":{"mongo_id":"8f5aee71-294a-4b65-b23a-17b5ee07e897","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/364.jpg","photo_position":"above","related_issue":[564037],"teaser":"","voice_url":""},"yoast_head":"\nMercedes\u2019 local partner plans EGP 1 bn bond issuance to enter EV market - 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\/04\/mercedes-local-partner-plans-egp-1-bn-bond-issuance-to-enter-ev-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mercedes\u2019 local partner plans EGP 1 bn bond issuance to enter EV market\" \/>\n<meta property=\"og:description\" content=\"A EGP 1 bn bond issuance could help Mercedes\u2019 local partner enter the EV market: The National Automotive Company (NATCO) plans to offer bonds worth EGP 1 bn to expand its distribution network and enter the electric-vehicle (EV) sector, the company said in an emailed statement (pdf). 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NATCO will hold the controlling 76% stake in the yet-to-be named firm,\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/224.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549987,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/natco-reportedly-acquires-a-third-of-ev-platform-electrified\/","url_meta":{"origin":564044,"position":2},"title":"NATCO reportedly acquires a third of EV platform Electrified","author":"enterpriseam admin","date":"10 October 2022","format":false,"excerpt":"State-owned National Automotive Company (NATCO) has acquired 33% of local private sector EV services platform Electrified, according to a report by Al Mal.NATCO looks to be building an EV empire \u2014 with a first mover advantage. The company wants to become the country\u2019s leading electric vehicle distributor and plans to\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/175.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572463,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/natco-appoints-yasser-saleh-as-ceo-karam-gabr-tapped-as-new-supreme-media-council-boss\/","url_meta":{"origin":564044,"position":3},"title":"NATCO appoints Yasser Saleh as CEO; Karam Gabr tapped as new Supreme Media Council boss","author":"enterpriseam admin","date":"25 June 2020","format":false,"excerpt":"MOVES- Yasser Saleh has been appointed as CEO of the National Automotive Company (NATCO), the production and distribution partner of Mercedes-Benz passenger cars in Egypt, according to the local press. Saleh has previously served as CEO of Egyptian German Automotive, CEO of SAPPL Mercedes-Benz in Algeria, and export manager at\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":656268,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/02\/alkan-natco-and-zero-carbon-plan-major-ev-launches-in-2025\/","url_meta":{"origin":564044,"position":4},"title":"Alkan, NATCO, and Zero Carbon plan major EV launches in 2025","author":"enterpriseam admin","date":"2 December 2024","format":false,"excerpt":"Chinese BAIC group\u2019s local agent Alkan Auto is preparing to launch BAIC\u2019s Arcfox EVs to the market during 1Q 2025","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1185.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598009,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/12\/natco-will-accept-a-wider-range-of-payments-for-mercedes-after-eca-complaints\/","url_meta":{"origin":564044,"position":5},"title":"NATCO will accept a wider range of payments for Mercedes after ECA complaints","author":"enterpriseam admin","date":"12 May 2019","format":false,"excerpt":"Local Mercedes agent National Automotive Company (NATCO) will now accept a wider range of payment terms for its vehicles, the Egyptian Competition Authority said in a statement (pdf). The competition watchdog said it had received complaints that NATCO was restricting Mercedes customers to installment payment plans through a single intermediary.","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564044","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=564044"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564044\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/564037"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/564045"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=564044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=564044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=564044"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=564044"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=564044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}