Back to the complete issue
Tuesday, 22 October 2019

Sarwa Capital concludes EGP 776 mn Palm Hills securitized bond

Palm Hills and Sarwa Capital have closed a EGP 776 mn securitized bond backed by a portfolio of 582 delivered units at 11 of the real estate company’s developments, Sarwa said in a statement (pdf). This brings Palm Hills’ total issuances to EGP 2.4 bn. The bond was issued by Sarwa Securitization Company, while Sarwa Promotion & Underwriting acted as structuring advisor, and the lead manager and arranger of the transaction. The issuance was underwritten and co-arranged by Banque Misr, Arab African International Bank and Ahli United Bank, while our friends at ALC acted as legal advisors.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; and Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Abu Auf (tax ID: 584-628-846), the leading health foodmaker in Egypt and the region.