{"id":565757,"date":"2021-04-28T13:53:23","date_gmt":"2021-04-28T13:53:23","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/palm-hills-taps-market-for-second-securitized-offering-in-less-than-six-months\/"},"modified":"2021-04-28T13:53:23","modified_gmt":"2021-04-28T13:53:23","slug":"palm-hills-taps-market-for-second-securitized-offering-in-less-than-six-months","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/palm-hills-taps-market-for-second-securitized-offering-in-less-than-six-months\/","title":{"rendered":"Palm Hills taps market for second securitized offering in less than six months"},"content":{"rendered":"

<\/a> Palm Hills Developments has approved a EGP 800 mn securitized bond issuance backed <\/strong>by its receivables<\/strong>, the company said in a regulatory filing (pdf)<\/a> today. Sarwa Capital has been appointed to manage the issuance. The company was said earlier this year to be looking at an issuance<\/a> after successfully closing in late 2020 a triple-tranche EGP 1.25 bn issuance<\/a> \u2014 its largest to date.<\/p>\n

It\u2019s a busy market: <\/strong>Palm Hills becomes the latest to announce a securitization transaction since Raya subsidiary Aman announced<\/a> plans to take EGP 600 mn in securitized bonds to market in 2Q2021. EFG Hermes Corp-Solutions is also looking<\/a> to ramp up its securitization portfolio in 2021, after its total portfolio grew 55% last year, CEO Talal Elayat told us. Meanwhile, Edge Holdingis eyeing<\/a> the securitization of a EGP 1 bn receivables portfolio next year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Palm Hills Developments has approved a EGP 800 mn securitized bond issuance backed by its receivables, the company said in a regulatory filing (pdf) today. Sarwa Capital has been appointed to manage the issuance. The company was said earlier this year to be looking at an issuance after successfully closing in late 2020 a triple-tranche […]<\/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":[10044],"tags":[933,88,633,354,85],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565757","post","type-post","status-publish","format-standard","hentry","category-speed-round-debt-watch","tag-contact-financial","tag-debt-watch","tag-enterprisepm","tag-palm-hills-developments","tag-securitization","wpautop","entry"],"acf":{"mongo_id":"8cc80f08-b424-47b4-be0a-d90f7f39d032","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[565750],"teaser":"","voice_url":""},"yoast_head":"\nPalm Hills taps market for second securitized offering in less than six months - 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\/04\/28\/palm-hills-taps-market-for-second-securitized-offering-in-less-than-six-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Palm Hills taps market for second securitized offering in less than six months\" \/>\n<meta property=\"og:description\" content=\"Palm Hills Developments has approved a EGP 800 mn securitized bond issuance backed by its receivables, the company said in a regulatory filing (pdf) today. 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The issuance is part of a EGP 346 mn receivables portfolio from PHD\u2019s Palm Hills Katameya Extension, Palm Parks, and Hacienda White 2,\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556265,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/18\/palm-hills-board-signs-off-on-egp-1-bn-securitized-bond-issuance\/","url_meta":{"origin":565757,"position":1},"title":"Palm Hills board signs off on EGP 1 bn securitized bond issuance","author":"enterpriseam admin","date":"18 October 2021","format":false,"excerpt":"Palm Hills Developments (PHD) will issue EGP 1.1 bn in securitized bonds, after the property developer\u2019s board signed off on the move at a meeting yesterday, according to a regulatory filing (pdf). Sarwa Securitization is managing the issuance for Palm Hills.The bond issuance comes as part of several financing arrangements\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":612562,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/25\/valu-phd-aur-leasing-close-securitization-bond-issuances\/","url_meta":{"origin":565757,"position":2},"title":"Valu, PHD, Aur Leasing close securitization bond issuances","author":"enterpriseam admin","date":"25 December 2023","format":false,"excerpt":"This brings the total value of securitized bonds issued in Egypt this year to EGP 86 bn","rel":"","context":"In \"Al Ahly Pharos\"","block_context":{"text":"Al Ahly Pharos","link":"https:\/\/enterpriseam.com\/egypt\/tag\/al-ahly-pharos\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1547.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590568,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/24\/palm-hills-closes-egp-472-5-mn-securitized-bond-issuance\/","url_meta":{"origin":565757,"position":3},"title":"Palm Hills closes EGP 472.5 mn securitized bond issuance","author":"enterpriseam admin","date":"24 July 2023","format":false,"excerpt":"PHD closes second securitization transaction of 2023: Our friends at real estate developer Palm Hills Developments (PHD) has closed a EGP 472.5 mn securitized bond issuance, according to a joint statement (pdf) from PHD and EFG Hermes, which managed the transaction. EGP 1+ bn and counting: PHD has now securitized\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\/2023\/7\/857.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562876,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/09\/palm-hills-closes-egp-1-2-bn-securitized-bond-sale\/","url_meta":{"origin":565757,"position":4},"title":"Palm Hills closes EGP 1.2 bn securitized bond sale","author":"enterpriseam admin","date":"9 June 2021","format":false,"excerpt":"Palm Hills Development closed a fresh securitized bond issuance backed by a receivables portfolio of nearly EGP 1.2 bn, according to a press release (pdf). The bonds were issued in four tranches with ratings of AA+, AA, A, and A-.The size of the sale is close to PHD\u2019s record EGP\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":559245,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/14\/palm-hills-tapping-al-taamir-for-securitization\/","url_meta":{"origin":565757,"position":5},"title":"Palm Hills tapping Al Taamir for securitization?","author":"enterpriseam admin","date":"14 January 2021","format":false,"excerpt":"Al Taamir is in talks to manage Palm Hills Developments\u2019 (PHD) planned EGP 650 mn securitized bond issuance, which is expected to go to market this quarter, Al Taamir Chairman Mazen Hassan tells Al Mal. 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