{"id":657999,"date":"2024-12-30T00:00:00","date_gmt":"2024-12-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/30\/efg-finances-bedaya-issues-egp-1-8-bn-in-securitized-bonds-contact-al-ahly-leasing-close-securitization-rounds\/"},"modified":"2024-12-30T00:00:00","modified_gmt":"2024-12-30T00:00:00","slug":"efg-finances-bedaya-issues-egp-1-8-bn-in-securitized-bonds-contact-al-ahly-leasing-close-securitization-rounds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/30\/efg-finances-bedaya-issues-egp-1-8-bn-in-securitized-bonds-contact-al-ahly-leasing-close-securitization-rounds\/","title":{"rendered":"EFG Finance\u2019s Bedaya issues EGP 1.8 bn in securitized bonds + Contact, Al Ahly Leasing close securitization rounds"},"content":{"rendered":"

The end-of-year securitization rush continues: <\/strong>A number of entities announced closing securitization issuances other the past 24 hours. <\/p>\n

DATA POINT- <\/strong>These issuances bring the total value of securitized bonds issued in Egypt this year to EGP 38.0 bn \u2014 58.3% less than the amount raised in the same period last year \u2014 according to data tracked by EnterpriseAM.<\/p>\n

BEDAYA CLOSES FIFTH SECURITIZATION ROUND- <\/p>\n

Bedaya closes EGP 1.8 bn securitization round: <\/strong>Bedaya Mortgage Finance, a subsidiary of EFG Holding\u2019s NBFI arm EFG Finance, has completed an EGP 1.8 bn securitization issuance, according to a statement (pdf)<\/a>. The issuance is the company\u2019s fifth ever, and third of a wider EGP 10 bn program<\/a>.<\/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 issuance included four tranches with tenors ranging from 13 to 81 months which receive credit ratings from AA to A- from the Middle East Ratings and Investors Service (MERIS). The issuance was backed by a receivables portfolio from GB Corp\u2019s Capital for Securitization as the issuance\u2019s special purpose vehicle. <\/p>\n

Who bought in?<\/strong> The National Bank of Egypt (NBE), Arab Banking Cooperation, and SAIB Bank were among the transaction\u2019s subscribers.<\/p>\n

Advisors: <\/strong>EFG Hermes acted as sole financial advisor and transaction manager. It was also bookrunner, underwriter and arranger. Abu Dhabi Commercial Bank was the custodian bank. Barakat, Maher & Partners in collaboration with Clyde & Co provided legal advisory, while Sherif Mansour Dabus-Russel Bedford served as the auditor. NBE and Al Baraka Bank were underwriters.<\/p>\n

CONTACT FINANCIAL CLOSES ITS 45TH SECURITIZATION ISSUANCE- <\/p>\n

Contact Financial has closed an EGP 1.2 bn securitization issuance<\/strong>, its second this year, the non-banking financial services player announced in a press release (pdf)<\/a>. The bonds were issued by Contact\u2019s Sarwa Securitization and backed by a Contact Credit portfolio.<\/p>\n

The issuance included three tranches<\/strong> with maturities ranging from 13 to 60 months, receiving AA+, AA, and A ratings from MERIS. <\/p>\n

The buyers:<\/strong> Al Ahli Bank of Kuwait and CIB were among the issuance\u2019s subscribers, alongside several money market funds, the statement noted. Al Ahli Bank of Kuwait, CIB, CI Capital, Contact, and Al Ahly Pharos were underwriters.<\/p>\n

It\u2019s been a busy year for the firm: <\/strong>The issuance marks Contact Financial\u2019s second of the year, following an EGP 1.04 bn issuance in May<\/a>. The company also opened its first branch in Dubai in September<\/a>, with further regional and European expansions \u2014 as well as plans to establish a new ins. consultancy<\/a> \u2014 also on the cards. <\/p>\n

Advisors: <\/strong>Contact served as the issuance manager and promoter, while the Arab African International Bank acted as the custodian and placement agent. Our friends at ALC Alieldean Weshahy & Partners provided legal counsel, while KPMG served as auditor.<\/p>\n

\n

AL AHLY LEASING AND FACTORING CLOSES SECURITIZATION ISSUANCE-<\/p>\n

Al Ahly Leasing and Factoring has raised EGP 878 mn from a securitized bond issuance<\/strong>, its second under a three-year EGP 4 bn program, according to a statement<\/a>(pdf)<\/a> from legal counsel Dreny & Partners. <\/p>\n

The details: <\/strong>The issuance was backed by a portfolio of receivables originated by Al Ahly Leasing and Factoring and it came in three tranches rated AA+ to A.<\/p>\n

Advisors:<\/strong> Al Ahly Pharos acted as the financial advisor and lead arranger for the transaction, also serving as underwriter alongside the NBE, Arab African International Bank, and Banque du Caire. NBE acted as the custodian, Banque du Caire as the bookrunner, and Baker Tilly as the official auditor. Dreny & Partners acted as counsel.<\/p>\n","protected":false},"excerpt":{"rendered":"

The issuance included four tranches with tenors ranging from 13 to 81 months<\/p>\n","protected":false},"author":1,"featured_media":658000,"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":[1400,6736,933,7106,88,84,72,85],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-657999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-al-ahly-leasing-and-factoring-company","tag-bedaya-mortgage-finance","tag-contact-financial","tag-debt","tag-debt-watch","tag-efg-hermes","tag-enterpriseam","tag-securitization","wpautop","entry"],"acf":{"mongo_id":"298079ca-4418-4549-abc3-5cef473fde5c","order":"12","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/2491.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EFG 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WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1126.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547558,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/27\/are-securitized-bonds-gaining-momentum-in-our-mortgage-market\/","url_meta":{"origin":657999,"position":2},"title":"Are securitized bonds gaining momentum in our mortgage market?","author":"enterpriseam admin","date":"27 June 2022","format":false,"excerpt":"A consortium of local mortgage lenders is mulling a securitization program that could be worth over EGP 2.5 bn, Enterprise has confirmed, just a week after the local mortgage market saw its first ever securitization. Al Oula, Al Ahly Mortgage Finance, and Amlak Egypt are part of the consortium currently\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\/6\/311.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":653246,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/14\/efg-finances-bedaya-issues-egp-1-4-bn-in-securitized-bonds\/","url_meta":{"origin":657999,"position":3},"title":"EFG Finance\u2019s Bedaya issues EGP 1.4 bn in securitized bonds","author":"enterpriseam admin","date":"14 October 2024","format":false,"excerpt":"The four-tranche bond earned credit ratings ranging from A- to AA","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\/2024\/10\/1023.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547454,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/efg-hermes-closes-the-first-securitization-for-an-egyptian-mortgage-firm\/","url_meta":{"origin":657999,"position":4},"title":"EFG Hermes closes the first securitization for an Egyptian mortgage firm","author":"enterpriseam admin","date":"22 June 2022","format":false,"excerpt":"EFG Hermes has closed an EGP 651.2 mn securitized bond issuance on behalf of mortgage provider Bedaya, it said in a statement (pdf) yesterday. 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":663218,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/06\/efg-finances-bedaya-issues-egp-1-6-bn-in-securitized-bonds\/","url_meta":{"origin":657999,"position":5},"title":"EFG Finance\u2019s Bedaya issues EGP 1.6 bn in securitized bonds","author":"enterpriseam admin","date":"6 April 2025","format":false,"excerpt":"The issuance introduces four tranches with tenors ranging from 13 to 81 months.","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\/2025\/4\/54.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\/657999","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=657999"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/657999\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/657979"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/658000"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=657999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=657999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=657999"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=657999"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=657999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}