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Tuesday, 8 September 2020

Premium Card closes EGP 182 mn securitized bond issuance

DEBT WATCH- Premium Card closes EGP 182 mn securitized bond issuance: Premium Card has closed the third issuance of its EGP 2 bn securitized bond program with a single-tranche, 10-month bond worth EGP 182 mn, a company statement (pdf) said on Monday. EFG Hermes, the Arab African International Bank and EG Bank all participated in the issuance, which received a “Prime 1” rating from the Middle East Rating Bureau and Investor Services (MERIS), the highest credit rating in the Egyptian bond market.

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