EFG Hermes has partnered with newly set-up mortgage finance company Qasatli to issue five-year securitized bonds, worth EGP 1.8 bn, Invest-Gate reports.
The bonds will be issued for two of the top real estate companies in Egypt, Qasatli recently announced on its official Facebook account, without naming the issuers.
According to Hapi Journal, Mansour Amer’s Porto Group and Amer Group are reportedly the ones behind the offering. However, nothing is yet officially confirmed.
The move follows a series of debt issuance and arrangement deals by EFG Hermes, prompting companies to forge ahead with non-banking funding solutions in the current period.