EFG Hermes Concludes Advisory on Bedaya Mortgage Finance’s Eighth Securitization Issuance Worth EGP 1.91 Billion

EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that its investment banking division’s Debt Capital Markets team successfully concluded advisory on a securitized bond issuance for Bedaya Mortgage Finance, a leading non-bank mortgage finance provider in Egypt, with a total value of EGP 1.91 billion. The issuance marks Bedaya’s eighth securitization issuance since inception and the sixth under the Capital securitization program.

The bond is backed by a receivables portfolio assigned to Capital for Securitization, a GB company, which acts as the issuance’s special purpose vehicle (SPV). It is comprised of four tranches with variable interest rates, structured as follows:

Tranche A – Valued at EGP 238.38 million, with a 13-month tenor and a credit rating of AA

Tranche B – Valued at EGP 648.38 million, with a 36-month tenor and a credit rating of A

Tranche C – Valued at EGP 715.13 million, with a 60-month tenor and a credit rating of A-

Tranche D – Valued at EGP 305.12 million, with an 81-month tenor and a credit rating of A-

Maie Hamdy, Managing Director – Debt Capital Markets at EFG Hermes, commented, “We are proud to once again partner with Bedaya Mortgage Finance on their eighth securitization issuance. This transaction reflects the continued confidence in Bedaya’s portfolio. It underscores the strength of our debt capital markets platform in delivering innovative financing solutions that support our clients’ growth strategies and the development of Egypt’s mortgage finance sector.”

Tarek Abou-Gendia, CEO and Managing Director of Bedaya Mortgage Finance, said, “This eighth issuance is not just a milestone; it is a strong testament to our unwavering commitment to improving access to mortgage finance in Egypt. Our strategic partnership with EFG Hermes enables us to broaden our funding sources and propel our growth, ensuring that we continue to meet the needs of our customers and contribute to the economic development of the region.”

EFG Hermes acted as the sole financial advisor, sole transaction manager, book-runner, underwriter, and arranger on the transaction. The issuance was underwritten by the National Bank of Egypt (NBE), Banque du Caire (BDC), Commercial International Bank (CIB), Société Arabe Internationale de Banque (SAIB), and Ahli Bank of Kuwait (ABK). The United Bank (UB) participated as a subscriber, while BDC acted as the placement agent. Abu Dhabi Commercial Bank (ADCB) served as the custodian bank. Dreny & Partners acted as legal advisor, and Baker Tilly served as the auditor.