Beltone Leasing and Factoring Concludes its First EGP 1.33 Billion Securitization Issuance

Beltone Holding (“Beltone”) announces that its wholly owned subsidiary, Beltone Leasing and Factoring, has 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. The significant oversubscription of 1.5x is a clear testament to Beltone’s robust financial management and its ability to tap into Egypt’s evolving capital markets, attracting a diverse range of investors.

The bond is split into three tranches. Tranche A is valued at EGP 164 million, with a tenor of 12 months, and rated AA+ by Middle East Rating and Investors Service (MERIS). Tranche B is valued at EGP 945 million, with a tenor of 36 months, and rated AA by MERIS. Tranche C is valued at EGP 224 million, with a tenor of 48 months, and rated A by MERIS.

Amir Ghannam, Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance at Beltone, remarked, “This securitization demonstrates not only the resilience of our portfolio but also the trust investors place in our vision for growth in Egypt’s non-banking financial services. The 1.5x oversubscription further emphasizes such confidence in our ability to manage a robust and high-performing portfolio. This successful transaction not only highlights our strength but also unlocks new capital streams that will propel our future growth and innovation, driving us to set new benchmarks in the industry.”

Sherif Hassan, Group Treasurer and Managing Director of Debt Capital Markets at Beltone, added, “The successful conclusion of this issuance marks an important milestone for Beltone Investment Banking, showcasing our commitment to reshape the financial landscape. As we embark on this journey into the Debt Capital Markets, we are unleashing a wave of innovative financial instruments to transform the market and deliver tailored solutions for our clients that drive growth.”

The transaction parties included the National Bank of Egypt, serving as the custodian for the transaction; Al Ahly Pharos, acting as the arranger; and First Abu Dhabi Bank Misr (FABMISR) as the co-arranger. The underwriters included the National Bank of Egypt, First Abu Dhabi Bank Misr (FABMISR), Banque Du Caire, and Suez Canal Bank, with the Industrial Development Bank participating as a subscriber. Dreny & Partners provided legal advisory, while KPMG served as an external auditor.