EFG Hermes Concludes Advisory on MLF Finance’s First Securitization Issuance Worth EGP 1.139 Billion
EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that it successfully concluded advisory on the EGP 1.139 billion securitized bond issuance for MLF Finance, marking the company’s first issuance under its new EGP 12 billion securitization program.
The bond is backed by a receivables portfolio assigned to EFG Hermes for Securitization as the issuance’s special purpose vehicle (SPV). With a 78-month tenor, the issuance is comprised of four tranches, structured as follows:
Tranche A – Valued at EGP 187.9 million, with a 13-month tenor, variable interest rate, and a credit rating of AA+
Tranche B – Valued at EGP 449.9 million, with a 36-month tenor, variable interest rate, and a credit rating of AA
Tranche C – Valued at EGP 341.7 million, with a 60-month tenor, variable interest rate, and a credit rating of A+
Tranche D – Valued at EGP 159.5 million, with a 78-month tenor, variable interest rate, and a credit rating of A-
Ahmed Zahran, Founder, CEO & Managing Director at MLF-Finance, commented: “Completing our first securitization bond issuance worth EGP 1.139 billion in a relatively short period and with precision represents a significant achievement for the company. This milestone was accomplished in collaboration with esteemed institutions including EFG Hermes, MERIS, KPMG, and Dreny & Partners. Furthermore, we have obtained approval from the Financial Regulatory Authority (FRA) for a broader EGP 12 billion securitization program, which will further support our growth strategy and expansion plans within Egypt’s non-banking financial sector.”
Maie Hamdy, Managing Director, Debt Capital Markets at EFG Hermes, commented, “This issuance for MLF Finance marks a significant step forward in expanding the company’s access to diversified financing channels. By structuring the first transaction under MLF Finance’s EGP 12 billion program, we continue to reinforce our commitment to delivering tailored, high-impact debt capital market solutions that empower our clients to pursue sustainable growth with enhanced financial flexibility.
EFG Hermes acted as sole financial advisor, sole transaction manager, book-runner, underwriter, and arranger on the transaction. National Bank of Egypt (NBE), Commercial International Bank (CIB), and Banque du Caire acted as underwriters, while NBE also served as custodian and Banque du Caire served as the placement agent. Industrial Development Bank (IDB) was one of the subscribers. Dreny & Partners acted as legal advisor, and KPMG served as the auditor.
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