03‏/05‏/2025

Palm Hills Developments issues securitization bonds worth EGP 472.5m

Today, Palm Hills Developments announced that the promotion and underwriting division of the leading investment bank in emerging and frontier markets, EFG Hermes, has succeeded in completing the issuance of securitization bonds worth EGP 472.5 million. The version was launched in three tranches.

The company stated, in a statement, that the value of the first tranche amounts to EGP 49.61 million, with a duration of 13 months, and its credit rating is AA+ from the Middle East Credit Rating and Investor Service Company (MERIS).

The value of the second tranche amounts to EGP 137.02 million, with a duration of 36 months, and its credit rating is AA from the company (MERIS).

It is worth noting that EFG Hermes acted as the sole financial advisor, promoter and sole underwriter for the issuance transaction.

KPMG acted as auditor, while Ali El Din Weshahi & Partners ALC acted as legal advisor for the transaction.

The National Bank of Egypt, the Arab African International Bank (AAIB) and Al Baraka Capital for Financial Investments also played the role of the underwriting guarantor, while Al Baraka Bank was one of the banks that underwent the subscription, and the Arab African International Bank (AAIB) also played the role of the custodian.