Arab FinanceEFG Hermes, the investment bank of the EFG Holding Group (HRHO), announced that the promotion and underwriting sector has succeeded in completing advisory services for the issuance of future cash flow securitization bonds worth 500 million pounds for Badr University in Assiut, one of the leading universities. Subsidiary to Sera Education Company.
The securitization bonds were issued to guarantee the future revenues of Badr University, and the issue was offered in 3 tranches with a variable interest rate as follows:
• The value of tranche (A) is 62.5 million pounds and its duration is 34 months, and it received a credit rating of A from the Middle East Institution for Credit Rating and Investor Service (MERIS).
• The value of tranche (B) is 155 million pounds and its duration is 58 months, and it received a credit rating of A from the Middle East Institution for Credit Rating and Investor Service (MERIS).
• The value of tranche (C) is 282.5 million pounds and its duration is 82 months, and it received a credit rating of A from the Middle East Institution for Credit Rating and Investor Service (MERIS).
In this context, Mai Hamdy, Executive Director of the Debt Markets Department in the Promotion and Underwriting Sector at EFG Hermes, stated that after the success of the first two issuances of future cash flow securitization bonds for Sera Education, EFG Hermes is proud of the company’s efforts to continue providing innovative financial solutions that allow… Educational institutions, such as Badr University in Assiut, have the potential to grow their business and achieve their investment ambitions, adding that this deal will enable the university to enhance its operational and development capabilities to meet the growing demand for educational services. Super quality in Egypt.
This deal is the latest in a series of debt issuances for which EFG Hermes has completed advisory services in the region. Recently, the company completed advisory services for a credit facility deal worth 300 million Egyptian pounds to increase the working capital of Cylinder Company. The company also succeeded in completing advisory services for the thirteenth issuance of securitization bonds worth 519.2 million pounds for “Aleo,” and the fifth issuance of securitization bonds for “Bedaya” Company worth 1.78 billion pounds, in addition to completing its advisory services for a short-term bond issuance deal worth 433 million pounds with a duration of A year for the benefit of “EFG Financial Solutions”, in addition to completing the issuance of unsecured short-term bonds worth 600 million pounds for the benefit of “Hermes”. Securities Brokerage, wholly owned by EFG Holding Group.
Related news
