EFG Hermes advises on EGP 900M short-term note for Hermes Securities Brokerage
Updated 5/25/2025 11:40:00 AM
Arab Finance: EFG Hermes, a subsidiary of EFG Holding, has completed advisory on a senior unsecured short-term note issuance worth EGP 900 million for Hermes Securities Brokerage Company (HSB), as per an emailed press release.
This is the sixth issuance by HSB and the first under its EGP 3 billion approved program.
The bond has a 12-month tenor with a variable interest rate.
HSB’s national scale long-term senior unsecured entity rating of BBB+ with a positive outlook and short-term senior unsecured issuer rating of P2 were confirmed by Middle East Ratings and Investor Services (MERIS).
EFG Hermes served as the sole financial advisor, transaction manager, book-runner, underwriter, and arranger. Commercial International Bank (CIB) acted as placement and subscription bank.
Legal advisory was provided by Dreny & Partners, with KPMG appointed as auditor.
This follows other debt issuances managed by EFG Hermes, including Bedaya’s sixth securitization of EGP 1.64 billion, valU’s 14th securitized bond of EGP 463.3 million, Bedaya’s fifth securitization of EGP 1.78 billion, Sylndr’s EGP 300 million working capital facility, and a short-term note of EGP 433 million for EFG Corp-Solutions.
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