{"id":590568,"date":"2023-07-24T00:00:00","date_gmt":"2023-07-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/24\/palm-hills-closes-egp-472-5-mn-securitized-bond-issuance\/"},"modified":"2023-07-24T00:00:00","modified_gmt":"2023-07-24T00:00:00","slug":"palm-hills-closes-egp-472-5-mn-securitized-bond-issuance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/24\/palm-hills-closes-egp-472-5-mn-securitized-bond-issuance\/","title":{"rendered":"Palm Hills closes EGP 472.5 mn securitized bond issuance"},"content":{"rendered":"

PHD closes second securitization transaction of 2023:<\/strong> 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)<\/a> from PHD and EFG Hermes, which managed the transaction. <\/p>\n

EGP 1+ bn and counting:<\/strong> PHD has now securitized more than EGP 1.1 bn of its receivables portfolio this year after closing a EGP 638 mn issuance<\/a> in February. <\/p>\n

DATA POINT-<\/strong> Companies have now issued more t han EGP 38 bn of securitized bonds so far this year, more than double the EGP 16.1 bn issued during the same period last year, according to data tracked by Enterprise. <\/p>\n

Advisors: Our friends at EFG Hermes ran the show<\/strong>, acting as sole financial advisor and bookrunner on the issuance. EFG also acted as an underwriter alongside the National Bank of Egypt, Arab African International Bank (AAIB), and Al Baraka Capital. Al Baraka Bank was a subscriber to the issuance , while AAIB acted as transaction custodian. Our friends at ALC Alieldean Weshahi & Partners provided legal counsel, and KPMG was the auditor. <\/p>\n","protected":false},"excerpt":{"rendered":"

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 more than EGP 1.1 bn […]<\/p>\n","protected":false},"author":1,"featured_media":590569,"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":[88,84,72,354,83,85],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-590568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-efg-hermes","tag-enterpriseam","tag-palm-hills-developments","tag-real-estate","tag-securitization","wpautop","entry"],"acf":{"mongo_id":"089e8eb3-22fd-423c-8846-df49be75fa82","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/7\/857.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Palm Hills closes EGP 472.5 mn securitized bond issuance","related_issue":[590552],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.16e52356-52f8-42ec-9570-47a81d0bdd9e.mp3"},"yoast_head":"\nPalm Hills closes EGP 472.5 mn securitized bond issuance - 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\/07\/24\/palm-hills-closes-egp-472-5-mn-securitized-bond-issuance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Palm Hills closes EGP 472.5 mn securitized bond issuance\" \/>\n<meta property=\"og:description\" content=\"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. 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About the issuance: The issuance\u2019s three tranches have tenors of 13, 36, and 84 months and ratings ranging\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\/2\/house-row-1600px.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":590568,"position":1},"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":612562,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/25\/valu-phd-aur-leasing-close-securitization-bond-issuances\/","url_meta":{"origin":590568,"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":556265,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/18\/palm-hills-board-signs-off-on-egp-1-bn-securitized-bond-issuance\/","url_meta":{"origin":590568,"position":3},"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":544499,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/","url_meta":{"origin":590568,"position":4},"title":"Misr Italia eyes EGP 700 mn securitized bond sale in 4Q 2022","author":"enterpriseam admin","date":"7 March 2022","format":false,"excerpt":"Misr Italia Properties is looking to issue securitized bonds worth EGP 700 mn during 4Q2022, Al Shorouk quoted CEO and Managing Director Mohamed Hany El Assal as saying. The issuance would be the second tranche of the property developer\u2019s EGP 2.5 bn securitization program. The first EGP 794 mn tranche\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\/3\/78.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565757,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/palm-hills-taps-market-for-second-securitized-offering-in-less-than-six-months\/","url_meta":{"origin":590568,"position":5},"title":"Palm Hills taps market for second securitized offering in less than six months","author":"enterpriseam admin","date":"28 April 2021","format":false,"excerpt":"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\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\/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\/590568","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=590568"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/590568\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/590552"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/590569"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=590568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=590568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=590568"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=590568"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=590568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}