{"id":617830,"date":"2024-03-28T00:00:00","date_gmt":"2024-03-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/28\/nuca-eyes-egp-260-bn-sukuk-issuance-in-2024\/"},"modified":"2024-03-28T00:00:00","modified_gmt":"2024-03-28T00:00:00","slug":"nuca-eyes-egp-260-bn-sukuk-issuance-in-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/28\/nuca-eyes-egp-260-bn-sukuk-issuance-in-2024\/","title":{"rendered":"NUCA eyes EGP 260 bn sukuk issuance in 2024"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>NUCA to sell EGP 260 bn in sukuk this year:<\/strong> The New Urban Communities Authority(NUCA) plans to issue up to EGP 260 bn worth of sharia-compliant bonds in 2024, in what would be the first corporate sukuk issuance from a government entity, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/62055\/%D8%A7%D9%84%D9%85%D8%AC%D8%AA%D9%85%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D9%85%D8%B1%D8%A7%D9%86%D9%8A%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%B7%D8%B1%D8%AD-%D8%B5%D9%83%D9%88%D9%83-%D8%A8%D9%80260-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reported, citing four sources it said are in the know. The Finance Ministry-backed issuance is expected to wrap up within a month, one of the sources told the outlet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where will the funds go?<\/strong> The issuance will help the authority settle arrears it owes to Banque Misr and the National Bank of Egypt,one of the sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NUCA maintains its spot as the biggest player in the securitization market:<\/strong> NUCA hasbeen setting records in the securitization market in recent years, issuing a total of EGP 70 bn of securities since 2019. The authority last closed a EGP 15 bn securitized bond issuance in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7c8ac437-201b-4d6f-bc7c-65382476b94c\" style=\"\" rel=\"noopener\">November<\/a>, in what was the second and final issuance of a EGP 30 bn program. It also set new records for the country\u2019s biggest securitized bond issuance in 2020 with a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08f62d78-a688-47cb-9ad1-4ab4ad1bcb06\" style=\"\" rel=\"noopener\">EGP 10 bn<\/a> issuance and again in 2022 with a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e4b248f-60d6-4930-9a92-c2a6aeddb6dd\" style=\"\" rel=\"noopener\">EGP 20 bn<\/a> transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plenty of corporate sukuk issuances are also in the pipeline:<\/strong> Five companies are in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/58d7b10d-1b31-4123-b4ac-7c45cb4f6ecb\/five-companies-are-mulling-sukuk-issuances-this-year.-plus:-news-from-contact,-hassan-allam-properties\" style=\"\" rel=\"noopener\">talks<\/a> with the Financial Regulatory Authority (FRA) to move ahead with sukuk issuances worth a combined EGP 10 bn, the FRA\u2019s Central Administration for Finance head, Sayed Abdel Fadil, said earlier this month. Contact Financial Holding, MNT-Halan\u2019s Tasaheel, GB Capital, and Rawasi Urban Development are reportedly among the interested companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NUCA\u2019s issuance would be the first of its kind from a government entity<\/p>\n","protected":false},"author":1,"featured_media":617831,"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":[576,88,72,276,2337,248,879,280],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-617830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-banque-misr","tag-debt-watch","tag-enterpriseam","tag-finance-ministry","tag-islamic-finance","tag-national-bank-of-egypt","tag-new-urban-communities-authority","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"44cf85e5-8cbc-4afd-9faf-e17f3a4dbb15","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/2541.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s New Urban Communities Authority eyes EGP 260 bn sukuk issuance in 2024","related_issue":[617813],"teaser":"NUCA\u2019s issuance would be the first of its kind from a government entity","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.b6383eb5-af4c-4663-93c9-cf1cea6dde5e.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Sources\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\/8\/126.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569745,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/05\/egypts-echem-planning-egp-1-bn-sukuk-issuance\/","url_meta":{"origin":617830,"position":1},"title":"Egypt\u2019s ECHEM planning EGP 1 bn sukuk issuance","author":"enterpriseam admin","date":"5 March 2020","format":false,"excerpt":"DEBT WATCH- ECHEM planning EGP 1 bn sukuk issuance: The Egyptian Petrochemicals Holding Company (ECHEM) is considering issuing EGP 1 bn-worth of sukuk to help finance its subsidiaries\u2019 ongoing projects, Al Shorouk reported, citing company sources. The issuance would make ECHEM the first state-owned company to issue sukuk. According to\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":595177,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/18\/fra-targeting-a-total-of-egp-16-bn-in-securitized-bond-issuances-in-2019\/","url_meta":{"origin":617830,"position":2},"title":"FRA targeting a total of EGP 16 bn in securitized bond issuances in 2019","author":"enterpriseam admin","date":"18 September 2019","format":false,"excerpt":"\u00a0The Financial Regulatory Authority (FRA) is targeting a total of EGP 16 bn in securitized bond issuances in 2019, of which EGP 10 bn have already been issued, Sayed Abdel Fadeel, head of the FRA\u2019s corporate finance department, told Al Mal. Consumer and structured-finance player Sarwa Capital said last week\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/232.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591977,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/23\/efg-planning-egp-1-bn-sukuk-issuance-for-egypts-tmg\/","url_meta":{"origin":617830,"position":3},"title":"EFG planning EGP 1 bn sukuk issuance for Egypt\u2019s TMG","author":"enterpriseam admin","date":"23 December 2019","format":false,"excerpt":"DEBT WATCH- EFG Hermes planning EGP 1 bn sukuk issuance for TMG? EFG Hermes will reportedly be leading a sukuk issuance worth over EGP 1 bn for Talaat Moustafa Group (TMG) as soon as it acquires a license that it has requested from the Financial Regulatory Authority (FRA), Al Mal\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":573130,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/21\/ebrd-to-invest-egp-1-5-bn-in-nuca-bond-issuance\/","url_meta":{"origin":617830,"position":4},"title":"EBRD to invest EGP 1.5 bn in NUCA bond issuance","author":"enterpriseam admin","date":"21 July 2020","format":false,"excerpt":"DEBT WATCH- EBRD to back NUCA bond issuance with EGP 1.5 bn investment: The European Bank for Reconstruction and Development (EBRD) will invest EGP 1.5 bn in the New Urban Communities Authority\u2019s (NUCA) latest EGP 10 bn securitized bond issuance, it announced in a statement (pdf) to Enterprise yesterday. This\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/171.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":617787,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/27\/this-evening-egypt-signs-three-industrial-investment-agreements-nuca-is-taking-its-first-sukuk-issuance-to-market\/","url_meta":{"origin":617830,"position":5},"title":"THIS EVENING: Egypt signs three industrial investment agreements + NUCA is taking its first sukuk issuance to market","author":"enterpriseam admin","date":"27 March 2024","format":false,"excerpt":"Good afternoon, wonderful people. We have a mixed bag of news on the local front as the week begins to wind down.** A QUICK PROGRAMMING NOTE- EnterprisePM is taking a publication holiday and will be back in your inboxes at the usual time Sunday afternoon. We\u2019ll be publishing the Weekend\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/969.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\/617830","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=617830"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617830\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/617813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/617831"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=617830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=617830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=617830"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=617830"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=617830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}