Beltone Leasing and Factoring, a subsidiary of Beltone Holding, has completed its first securitization issuance, raising EGP 1.33 bn, Invest-Gate reports.

The issuance, led by Beltone Investment Banking’s Debt Capital Markets Division, was 1.5 times oversubscribed, reflecting strong investor confidence in the company’s financial management and market potential.

Moreover, the bond issuance consists of three tranches: Tranche A is valued at EGP 164 mn and has a 12-month tenor and an AA+ rating from MERIS; Tranche B is valued at EGP 945 mn and has a 36-month tenor and an AA rating; and Tranche C is valued at EGP 224 mn and has a 48-month tenor and an A rating.

For his part, Amir Ghannam, Deputy Head of NBFIs at Beltone, highlighted the oversubscription as a testament to the company’s resilient portfolio and investor trust. “This success unlocks new capital streams that will propel future growth and innovation,” Ghannam stated.

Furthermore, Sherif Hassan, Beltone’s Group Treasurer, emphasized the significance of this transaction for Beltone Investment Banking, marking a key milestone in reshaping the financial landscape. “We are unleashing innovative financial instruments to transform the market,” Hassan added.

Several key financial institutions supported the transaction, including the National Bank of Egypt as the custodian, Al Ahly Pharos as arranger, and First Abu Dhabi Bank Misr (FABMISR) as co-arranger.

Notably, other underwriters included Banque Du Caire, Suez Canal Bank, and Industrial Development Bank. Dreny & Partners provided legal advisory services, and KPMG was the external auditor.