This is the second issuance in 2021 and the fifth for the two-year program which amounts to EGP 211 million. The fourth EGP 170 million issuance closed in January 2021.
Middle East Ratings and Investor Services assigned the EGP 211 million bond, which consists of a single 10-month tranche, a Prime 1 Rating, as it did with the last four issuances, making it one of the highest-rated bond issuances in the Egyptian market.
Premium International for Credit Services is the originator, assigning a portfolio backed by customer credit to EFG Hermes, the securitization special purpose vehicle.
The listed company has a presence in the United Arab Emirates, Saudi Arabia, Kuwait, Jordan, Oman, and Pakistan. It operates in holding and treasury, brokerage, asset management, investment banking, private equity, leasing, microfinance, and assets held for sale.