EFG Hermes Successfully Structures EGP 1.56 Billion Securitization for Bedaya Mortgage Finance in Strategic Four-Tranche Issuance

 EFG Hermes, the leading investment bank within EFG Holding and across the Middle East and North Africa (MENA) region, announced the successful completion of advisory services for the EGP 1.56 billion securitized bond issuance for Bedaya Mortgage Finance, Egypt’s leading non-bank mortgage finance provider.

 Strategic Issuance Structure

This landmark transaction represents Bedaya’s seventh securitization since inception and the fifth under the Capital for Securitization program, a GB company subsidiary. The bond issuance is backed by a comprehensive receivables portfolio assigned to Capital for Securitization as the special purpose vehicle (SPV), structured across four tranches with variable yields and graduated credit ratings from Middle East Rating and Investors Service (MERIS).

Four-Tranche Breakdown

Tranche A: EGP 171.29 million with 13-month tenor, achieving AA credit rating from MERIS.

Tranche B: EGP 552.81 million with 36-month tenor, securing A credit rating from MERIS.

Tranche C: EGP 646.24 million with 60-month tenor, rated A- by MERIS.

Tranche D: EGP 186.86 million with 82-month tenor, rated A- by MERIS.

Maie Hamdy, Managing Director of Debt Capital Markets at EFG Hermes, stated: “We are proud to once again partner with Bedaya Mortgage Finance on their seventh securitization issuance. This transaction reaffirms investor confidence in Bedaya’s portfolio and further highlights the strength of our debt capital markets platform in structuring transactions that enhance liquidity and support long-term growth.”

Hamdy emphasized the firm’s continued commitment to delivering innovative debt solutions that serve clients’ strategic objectives while contributing to the advancement of Egypt’s mortgage finance sector.

Tarek Abou-Gendia, CEO and Managing Director of Bedaya Mortgage Finance, commented: “The seventh issuance reflects our steadfast commitment to expanding access to mortgage finance in Egypt. By working closely with EFG Hermes, we have been able to strengthen our securitization program and look forward to continuing to develop dynamic financing solutions that reinforce our market leadership and support sustainable growth.”

EFG Hermes served as sole financial advisor, sole transaction manager, book-runner, underwriter, and arranger for the transaction. The comprehensive banking consortium included:

Underwriters: National Bank of Egypt, Al Baraka Bank, Commercial International Bank (CIB)
Subscribers: Bank NXT, Arab Banking Corporation (ABC)
Placement Agent: National Bank of Egypt
Custodian Bank: Abu Dhabi Commercial Bank (ADCB)

The transaction benefited from expert legal and financial advisory services, with Dreny & Partners serving as legal counsel and Baker Tilly acting as the independent auditor, ensuring full compliance with regulatory standards and professional best practices in Egypt’s capital markets.

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