{"id":653246,"date":"2024-10-14T00:00:00","date_gmt":"2024-10-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/14\/efg-finances-bedaya-issues-egp-1-4-bn-in-securitized-bonds\/"},"modified":"2024-10-14T00:00:00","modified_gmt":"2024-10-14T00:00:00","slug":"efg-finances-bedaya-issues-egp-1-4-bn-in-securitized-bonds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/14\/efg-finances-bedaya-issues-egp-1-4-bn-in-securitized-bonds\/","title":{"rendered":"EFG Finance\u2019s Bedaya issues EGP 1.4 bn in securitized bonds"},"content":{"rendered":"

Bedaya hits the securitization market again: <\/strong>EFG Holding\u2019 NBFI arm EFG Finance\u2019s Bedaya Mortgage Finance has issued EGP 1.4 bn in securitized bonds, according to a statement (pdf)<\/a>. The issuance is Bedaya\u2019s fourth and is the second<\/a> in a wider EGP 3 bn securitization program.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

The details:<\/strong> The four-tranche bond, with tenors ranging from 13 months to 81 months, received credit ratings from A- to AA from the Middle East Rating Service (MERIS). The issuance is backed by a receivables portfolio from GB Capital\u2019s Capital for Securitization as the issuance\u2019s special purpose vehicle.<\/p>\n

Who bought in?<\/strong> The Arab Banking Corporation and Soci\u00e9t\u00e9 Arabe Internationale de Banque subscribed to the issuance. EFG Hermes acted as underwriter alongside the National Bank of Egypt and Al Baraka Bank.<\/p>\n

Advisors:<\/strong> EFG Hermes was the sole financial advisor, transaction manager, bookrunner, and arranger for the issuance. The Abu Dhabi Commercial Bank Egypt was custodian bank, legal advice was provided by Barakat, Maher & Partners in collaboration with Clyde & Co, and Sherif Mansour Dabus\u2013Russell Bedford was auditor.<\/p>\n

DA<\/strong>TA POINT- <\/strong>The transaction brings the total value of securitized bonds issued in Egypt so far this year to EGP 21.2 bn \u2014 62.7% less than the amount raised in the same period last year \u2014 according to data tracked by Enterprise. <\/p>\n","protected":false},"excerpt":{"rendered":"

The four-tranche bond earned credit ratings ranging from A- to AA<\/p>\n","protected":false},"author":1,"featured_media":653247,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[6736,88,84,72,85],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-653246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-bedaya-mortgage-finance","tag-debt-watch","tag-efg-hermes","tag-enterpriseam","tag-securitization","wpautop","entry"],"acf":{"mongo_id":"3ac6b59b-9cb0-40c8-a38b-17be4fa01d31","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/1023.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EFG Finance\u2019s Bedaya issues EGP 1.4 bn in securitized bonds","related_issue":[653235],"teaser":"The four-tranche bond earned credit ratings ranging from A- to AA","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.6a3ad8da-1c34-475f-91b6-87ff55459d04.mp3"},"yoast_head":"\nEFG Finance\u2019s Bedaya issues EGP 1.4 bn in securitized bonds - 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\/2024\/10\/14\/efg-finances-bedaya-issues-egp-1-4-bn-in-securitized-bonds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG Finance\u2019s Bedaya issues EGP 1.4 bn in securitized bonds\" \/>\n<meta property=\"og:description\" content=\"The four-tranche bond earned credit ratings ranging from A- to AA\" \/>\n<meta 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The eight-tranche bond is backed by a mortgage portfolio of around EGP 1.02 bn, and is the first ever for a real estate mortgage firm in\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":566462,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/efg-tmg-gb-capital-mortgage-arm-bedaya-plans-securitization-before-2021-is-out\/","url_meta":{"origin":653246,"position":5},"title":"EFG, TMG, GB Capital mortgage arm Bedaya plans securitization before 2021 is out","author":"enterpriseam admin","date":"21 June 2021","format":false,"excerpt":"Mortgage provider Bedaya is planning to sell securitized bonds backed by its receivables before the end of the year, EFG Hermes Finance CEO Waleed Hassouna, whose company is a partner in Bedaya, told Al Mal. The sale would come as Bedaya is looking to set up more branches across the\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\/653246","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=653246"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/653246\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/653235"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/653247"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=653246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=653246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=653246"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=653246"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=653246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}