EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), announced today the successful closing of the first issuance in an EGP 6.5 billion securitization program for Amer Group, Porto Group, and Qasatli. EFG Hermes acted as sole arranger and financial advisor on the EGP 700 million issuance, which was covered more than one time and is part of a program for a portfolio of receivables worth EGP 911 million from five originators, including Amer Group’s four subsidiaries and mortgage finance company Qasatli. 

The securitization transaction consists of three tranches, with the first holding a maturity of 13 months, the second up to 36 months, and third up to 60 months. Middle East Ratings and Investor Services (MERIS) assigned the first tranche a credit rating of AA+, with the second and third tranches receiving designations of AA and A, respectively. 

“We are pleased to once again be partnering with Amer Group, one of Egypt’s leading real estate developers. The transaction follows on the heels of the successful close of a securitization program on behalf of Talaat Moustafa Group, bringing total debt issuances for the team to nine worth EGP 6 billion since the beginning of 2020. The success only serves to underscore our commitment to expanding our securitization capabilities as the asset class continues to gain traction in Egypt,” said Mostafa Gad, Co-Head of EFG Hermes' Investment Banking Division. 

The program was approved in December 2020 for nine different originators: Amer Group’s four subsidiaries, four subsidiaries of Porto Group, and Qasatli. Arab African International Bank (AAIB), Commercial International Bank (CIB), and Suez Bank acted as underwriters, with CIB acting as custodian.

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About EFG Hermes

With a current footprint spanning thirteen countries across four continents, EFG Hermes started in Egypt and has grown over 35 years of success to become a leading financial services corporation with access to emerging and frontier markets. Drawing on our proven track-record and a team of more than 5,500 talented employees, we provide a wide spectrum of financial services that include investment banking, asset management, securities brokerage, research and private equity to the entire MENA region. 

In 2015, EFG Hermes launched the NBFI Platform, EFG Hermes Finance, which overlooks activities in the non-banking finance field through Corp Solutions, Tanmeyah Microfinance, and valU for instalment sale services. This falls in line with the Firm’s strategy to focus on two main pillars: product diversification and geographic expansion into non-MENA markets, which has seen the firm establish a physical presence in Pakistan, Kenya, Bangladesh, Nigeria, Vietnam, the United Kingdom and the United States.:        

For further information, please contact: 

EFG Hermes Media

media@efg-hermes.com

May El Gammal

Group Head of Marketing & Communications 

melgammal@efg-hermes.com

Note on Forward-Looking Statements

In this press release, EFG Hermes may make forward looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Hermes’ belief regarding future events, many of which, by their nature are inherently uncertain and are beyond management’s control and include among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.