EFG Hermes announced that its promotion and underwriting division – the leading investment bank in emerging and frontier markets – has completed the first issue of Hermes’ securitization bonds worth 790 million pounds.
This is the first of three bond issuances worth a total of 3 billion pounds. A portfolio of notes receivable worth about 815.1 million pounds, covering 47 leasing contracts, is used to secure this offering.
The conclusion of this milestone transaction, according to Talal Al-Ayyat, CEO of EFG-Hermes for Financing Solutions, is a great step toward speeding the company’s business operations and expanding its position in the Egyptian market. According to Al-Ayyat, the company goes to great lengths to find funding sources that help the company develop its activities by boosting capital and extending its customer base by providing a variety of creative financial solutions.