Beltone Leasing closes second securitization bond
Cairo: Beltone Leasing and Factoring, a wholly owned subsidiary of Beltone Holding, has concluded its second securitization issuance in less than a year, with a total value of EGP 2 billion.
Beltone Investment Banking's Debt Capital Markets Division acted as financial advisor, lead manager, and bookrunner, according to a press release.
This transaction was executed through Beltone Securitization Company and rated by Middle East Rating and Investors Services (MERIS), with a minimum credit rating of 'A'.
The issuance was structured into three tranches valued at EGP 731 million, EGP 698 million, and EGP 581 million, respectively.
Underwriting was led by Banque du Caire, Suez Canal Bank, and First Abu Dhabi Bank Egypt (FABMISR). Banque du Caire served as placement agent, while Suez Canal Bank acted as custodian.
The offering attracted strong investor interest, with participation from Emirates NBD Egypt, Société Arabe Internationale de Banque (SAIB), and Attijariwafa Bank.
ALC Al-Weshahi and Partners provided legal counsel, whereas KPMG acted as external auditor.
Amir Ghannam, Deputy Head of Non-Banking Financial Services for Leasing, Factoring, and Consumer Finance, said: '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."
The EGX-listed firm posted consolidated operating revenues of EGP2.80 billion in the first quarter (Q1) of 2025.
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