Beltone Completes USD 27 Mil Securitization in Egypt's Capital Markets

Amir Ghannam of Beltone Leasing and Factoring

Beltone Holding has announced that its subsidiary, Beltone Leasing and Factoring, successfully completed its first securitization issuance, raising EGP 1.33 billion.

Beltone Investment Banking’s Debt Capital Markets Division acted as the financial advisor, issuance manager, and bookrunner for the transaction, which was significantly oversubscribed by 1.5 times, reflecting strong demand from a diverse pool of investors.

The bond was divided into three tranches: Tranche A, worth EGP 164 million with a 12-month tenor, received an AA+ rating from MERIS. Tranche B, valued at EGP 945 million with a 36-month tenor, was rated AA, while Tranche C, worth EGP 224 million with a 48-month tenor, was rated A.

Amir Ghannam, Deputy Head of NBFIs at Beltone, emphasized the oversubscription as a sign of investor confidence in the company's growth strategy. He stated that the successful issuance not only reflects the resilience of Beltone's portfolio but also opens new avenues for future expansion in Egypt's non-banking financial sector.

Source: Daily News Egypt