Arab Finance: EFG Hermes, the group's investment bank, announced today EFG Holding The leader in the Middle East and North Africa markets, the promotion and underwriting sector has succeeded in completing the second issuance of bonds worth 450 million pounds for a period of five years, for the benefit of EFG Financial Solutions, a subsidiary of the non-banking financing platform EFG Finance, which is wholly owned by the E Group. FG Holding, one of the leading companies in the field of financial leasing and factoring solutions in Egypt, according to the statement sent on October 14.
This deal is the first in a series of issuances within a bond issuance program worth 3 billion pounds.
EFG Hermes acted as the financial advisor, manager, arranger, promoter and sole underwriter of the bond issuance transaction. Al Ahli Bank of Kuwait – Egypt also played the role of coverage guarantor.
In this context, Majed Al-Ayouti, co-head of the promotion and underwriting sector at EFG Hermes, expressed his happiness with the pivotal role that the company played in completing the second deal for EFG Financing Solutions during the current year, which reflects the efforts of synergy and integration between various sectors. Sectors of EFG Holding Group.
Al-Ayouti added that despite the high interest rates, the local capital market is characterized by efficiency and high levels of liquidity, which has contributed to stimulating bond issuance in the local currency, which has received great demand from investors, in addition to enhancing the ability of major companies and non-banking financial institutions to Exploiting the market to raise the necessary capital to finance their growth plans.
For his part, Talal Al-Ayat, CEO of EFG Financial Solutions, expressed his happiness with the successful completion of this deal, especially as it represents a new achievement added to the company’s record of achievements, which enabled it to attract the attention of investors due to its leading position and their confidence in the company’s business model.
Al-Ayat added that this deal is an integral part of the company's strategy to provide a distinguished package of products and services in the field of financial leasing and factoring for a wide base of customers, noting that the company is working to maximize the benefits of this partnership in meeting the growing demand for financial services in the Egyptian market.
This deal comes after EFG Hermes succeeded in completing a series of deals, as it succeeded in completing a deal to issue short-term bonds worth 433 million pounds to EFG Financial Solutions last June.
In addition, the company succeeded in completing the issuance of unsecured short-term bonds worth 600 million pounds to Hermes Securities Brokerage Company, which represents the company’s fifth issuance and the second within a short-term bond issuance program approved with the necessary approvals worth 2 billion pounds for two years.
It also succeeded in completing the tenth issuance of securitization bonds for Valeo, the leading financial services technology company in the Middle East and North Africa, with a value of 1.2 billion pounds, which is part of an approved securitization bond issuance program worth 9.0 billion pounds.
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