Premium International closes EGP 170 mn securitized bond issuance
Consumer finance firm Premium International closed the fourth single-tranche EGP 170 mn tranche of its EGP 2 bn short-term securitized bond program yesterday, according to a statement (pdf) from our friends at EFG Hermes, which was sole financial advisor, sole transaction manager and book-runner, underwriter, and arranger for the sale. The 10-month tranche was rated Prime 1 by Meris. Dreny & Partners served as legal counsel.
ALSO IN THE MARKET FOR DEBT-
- Alexandria Petroleum could land a USD 250 mn loan in 1Q2021, EBRD Deputy Regional Director Khaled Hamza told Al Mal.
- EBRD could also provide the government with a loan by the summer to finance the Abu Qir metro project which will convert the existing railway into an underground metro, Hamza added. He had previously told the press that the government had requested an additional EUR 250 mn for the project.
- The United Bank of Egypt signed a EGP 500 mn financing agreement with City Edge Developments, according to Al Mal.
- Forward Contractors are negotiating with an unspecified state-owned bank for as much as EGP 1 bn to finance real estate projects in the new administrative capital, Al Mal reports, citing unnamed sources.