Cairo – Mubasher: EFG Hermes announced the completion of the fourth short-term securitisation issuance worth EGP 170 million for Premium International for Credit Services.
This comes as part of a two-year securitisation programme worth EGP 2 billion, which is the first short term securitisation programme in Egypt, under the new Short Term Debt Instrument (STDI) decree no. 172 of 2018, according to a statement on Wednesday.
The EGP 170 million bond includes a single 10-month tranche which received a “Prime 1 Rating, the strongest amongst other Egyptian bond issuances, by the Middle East Ratings and Investor Services (MERIS).
EFG Hermes was the sole financial advisor, sole transaction manager and book-runner, underwriter, and arranger.
