{"id":578713,"date":"2023-01-11T04:07:20","date_gmt":"2023-01-11T04:07:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/btech-kicks-off-egp-5-bn-securitization-program\/"},"modified":"2023-01-11T04:07:20","modified_gmt":"2023-01-11T04:07:20","slug":"btech-kicks-off-egp-5-bn-securitization-program","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/btech-kicks-off-egp-5-bn-securitization-program\/","title":{"rendered":"BTECH kicks off EGP 5 bn securitization program"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>BTECH has closed an EGP 1.038 bn securitized bond issuance<\/strong>, according to <a href=\"https:\/\/ent.news\/2023\/1\/B.TECH-X-CIB-NBE-V2En.pdf\">a joint<\/a><a href=\"https:\/\/ent.news\/2023\/1\/B.TECH-X-CIB-NBE-V2En.pdf\">statement (pdf)<\/a> from BTECH and CIB, which was the exclusive financial advisor on the transaction, as well as issuance manager, general arranger, promoter, and co-underwriter.<\/p>\n<p><strong>The details:<\/strong> The three-tranche issuance is the first in a short-term EGP 5 bn program that the company is rolling out over two years. The three tranches were rated P1 by Middle East Rating & Investors Services, the statement said.<\/p>\n<p><strong>Where the money\u2019s going:<\/strong> The proceeds will be put towards BTECH\u2019s growth plans, the statement said, without elaborating.<\/p>\n<p><strong>Also working on the transaction: <\/strong>CIB and the National Bank of Egypt served as the transaction custodians, Zulficar & Partners Law Firm was counsel and KPMG was the auditor.<\/p>\n<p><strong>The most recent undertaking after a bumper year for securitization:<\/strong> The securitization market saw issuances worth a combined EGP 51.2 bn in 2022, more than three times the EGP 15.8 bn sold the year prior, according to data tracked by Enterprise.<\/p>\n<p><strong>Under new ownership:<\/strong> Saudi Arabia sovereign wealth fund PIF last year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/22b78d62-86d0-4331-878e-0da58c84ce0a\">acquired a 34% stake<\/a> in the company for an undisclosed amount. We sat down with BTECH CEO Mahmoud Khattab at the time to talk about how far BTECH has come and the strategy moving forward.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BTECH has closed an EGP 1.038 bn securitized bond issuance, according to a jointstatement (pdf) from BTECH and CIB, which was the exclusive financial advisor on the transaction, as well as issuance manager, general arranger, promoter, and co-underwriter. The details: The three-tranche issuance is the first in a short-term EGP 5 bn program that the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":578714,"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":[240,88,72,85,2350],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-cib","tag-debt-watch","tag-enterpriseam","tag-securitization","tag-zulficar-partners","wpautop","entry"],"acf":{"mongo_id":"7cac9639-2390-4801-9ed4-d76bdf283cb8","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/169.jpg","photo_position":"above","related_issue":[578699],"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>BTECH kicks off EGP 5 bn securitization program - 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\/2023\/01\/11\/btech-kicks-off-egp-5-bn-securitization-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BTECH kicks off EGP 5 bn securitization program\" \/>\n<meta property=\"og:description\" content=\"BTECH has closed an EGP 1.038 bn securitized bond issuance, according to a jointstatement (pdf) from BTECH and CIB, which was the exclusive financial advisor on the transaction, as well as issuance manager, general arranger, promoter, and co-underwriter. The details: The three-tranche issuance is the first in a short-term EGP 5 bn program that the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/btech-kicks-off-egp-5-bn-securitization-program\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-11T04:07:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/169.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/btech-kicks-off-egp-5-bn-securitization-program\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/btech-kicks-off-egp-5-bn-securitization-program\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"BTECH kicks off EGP 5 bn securitization program\",\"datePublished\":\"2023-01-11T04:07:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/btech-kicks-off-egp-5-bn-securitization-program\/\"},\"wordCount\":214,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/btech-kicks-off-egp-5-bn-securitization-program\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/169.jpg?fit=%2C&ssl=1\",\"keywords\":[\"CIB\",\"debt watch\",\"EnterpriseAM\",\"securitization\",\"Zulficar &amp; 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more than EGP 1 bn worth of securitized bonds before the end of 2022 to finance its consumer finance operations, BTECH CEO Mahmoud Khattab said (watch, runtime: 48:36) The issuance is part of a plan to issue securitized bonds worth EGP 8-9 bn\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\/11\/414.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":615198,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/14\/globalcorp-issues-egp-1-35-bn-securitized-bond-issuance\/","url_meta":{"origin":578713,"position":1},"title":"GlobalCorp issues EGP 1.35 bn securitized bond issuance","author":"enterpriseam admin","date":"14 February 2024","format":false,"excerpt":"The issuance is part of GlobalCorp\u2019s EGP 10 bn securitization program","rel":"","context":"In &quot;DEBT 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The two institutions were joint financial advisors on the transaction alongside the National Bank of Egypt (NBE).The details: The three-tranche issuance is backed by\u2026","rel":"","context":"In &quot;Debt&quot;","block_context":{"text":"Debt","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/debt\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/142.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":610932,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/29\/nuca-closes-second-egp-15-bn-securitized-bond-issuance-this-year\/","url_meta":{"origin":578713,"position":5},"title":"NUCA closes second EGP 15 bn securitized bond issuance this year","author":"enterpriseam admin","date":"29 November 2023","format":false,"excerpt":"NUCA keeps its spot as the biggest player in the local securitization market","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\/11\/1614.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\/578713","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=578713"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578713\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/578699"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/578714"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=578713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=578713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=578713"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=578713"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=578713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}