Cairo: Beltone Holding ("Beltone") announces that its wholly owned subsidiary, Beltone Leasing and Factoring, has successfully concluded its second securitization issuance in less than a year, with a total value of EGP2 billion.
Led by Beltone Investment Banking’s Debt Capital Markets Division as financial advisor, lead manager, and bookrunner, the transaction reinforces Beltone’s position as a key player in Egypt’s capital markets.
The issuance was executed through Beltone Securitization Company and rated by Middle East Rating and Investors Services (MERIS). Underwriting was led by Banque du Caire, Suez Canal Bank, and First Abu Dhabi Bank Egypt (FAB Misr). Banque du Caire also served as placement agent, while Suez Canal Bank acted as custodian.
The transaction attracted strong investor interest, with participation from Emirates NBD Egypt, Société Arabe Internationale de Banque (SAIB), and Attijariwafa Bank. ALC Al-Weshahi & Partners provided legal counsel, and KPMG acted as external auditor.
“Completing two securitization issuances in less than a year reaffirms the strength and resilience of our portfolio, as well as the market’s confidence in our strategic growth plans,” said Amir Ghannam, Deputy Head of Non-Banking Financial Services for Leasing, Factoring, and Consumer Finance. “This second issuance is a significant milestone that reflects our commitment to developing financing solutions that meet the evolving needs of our clients’ needs and contribute to sustainable growth in the financial sector."
Sherif Hassan, Group Treasurer and Managing Director of Debt Capital Markets, added: “This transaction showcases our strong structuring capabilities and our agility in executing securitization deals that align with the demands of the debt market. We’re proud to be driving the development of a more dynamic, accessible financial ecosystem that empowers businesses and expands access to diversified debt financing solutions.”
Its worth noting that the issuance was executed through Beltone Securitization Company and rated by MERIS, it was structured into three tranches: EGP731 million (25 months), EGP698 million (37 months), and EGP581 million (54 months), each with a minimum credit rating of “A”.
