We are delighted to announce the successful closure of MNHD second securitized transaction for their real estate portfolio amounting to EGP 805.5 million, which comes as part of a wider 3-year multi-issuance program with a total value of EGP 3 billion.

The issuance was backed by a receivables portfolio originated by MNHD, and was comprised of three tranches: Tranche A amounting to EGP 241,650,000 rated AA+, Tranche B valued at EGP 210,117,500 rated AA, as well as, Tranche C valued at EGP 253,732,500 rated A, from the Middle East Ratings and Investors Service (MERIS).

It is worth mentioning that EFG Hermes acted as the financial advisor, National Bank of Egypt (NBE), Arab African Bank (AALB) and Commercial International Bank (CIB) along with EFG acted as underwriters of the transaction, in addition, CIB acted as bookrunner and custodian, and KPMG as the auditor of the transaction.

Partner, Head of Capital Markets and Financial Services; Imane Raouf commented: “We are delighted for being part of such a successful transaction which will positively impact the company’s future projects.” Raouf added: “I would like to thank all parties behind this success, especially our dedicated team for their professionalism and hard work while closing the issuance”.

This transaction was led by:

  • Partner, Head of Capital Markets and Financial Services Department Imane Raouf
  • Capital Markets team: Managing Associate Sherine EL Menyawy – Junior Associates Nada Kamal and Aya Khaled
  • From the Capital Markets Procedures team: Associate Nagy Ebeid and Junior Associate Ahmed Ayman

For more information contact us: info@dreny.partners