EFG Holding offers EGP 3bln securitisation bonds before year-end

Egypt’s EFG Holding is jointly offering securitisation bonds of up to 3 billion pounds before the end of 2023 through six or seven expected issues, according to financial market sources who spoke with Asharq Bloomberg on Tuesday.

A person familiar with the matter said that Talat Moustafa Group and other companies in the real estate sector as well as companies in the non-bank financial services sector “are among the leading issuers of securities before the end of 2023.

Securitisation is the financial practice in which certain types of assets are pooled so that they can be repackaged into interest-bearing securities.

It is worth mentioning that EFG Hermes Holding has rebranded to EFG Holding to ensure the brand evolves in line with the Group’s expansion across three distinct verticals.