EFG Hermes concludes advisory on HSB's sixth, EGP 900mln senior unsecured short-term note issuance
The national scale long-term senior unsecured entity rating of "BBB+" with a Positive Outlook and the short-term senior unsecured issuer rating of "P2" to HSB have been affirmed by the Middle East Ratings and Investor Services (MERIS). The bond has a 12-month tenor and a variable interest rate.
Maged El Ayouti, Co-Head of Investment Banking at EFG Hermes, commented on the issuance, saying, 'We are delighted to support Hermes Securities Brokerage Company (HSB) in closing its sixth issuance, which marks the first in its ambitious EGP 3 billion program, leveraging the synergies within EFG Holding. This issuance is a testament to our ongoing commitment to fostering sustainable growth within Egypt's financial markets as we continue to deliver innovative financing solutions and attract substantial demand from an investor base in such issuances beyond commercial banks. As the leading investment bank in the MENA region's capital markets, EFG Hermes remains dedicated to unlocking valuable investment opportunities for our clients across debt and equity markets.'
This transaction marks the latest in a series of debt issuances advised by EFG Hermes in the region. Most recently, EFG Hermes advised on Bedaya's sixth securitization issuance worth EGP 1.64 billion. It also advised Valu on its 14th securitized bond issuance, worth EGP 463.3 million, as well as the fifth securitization for Bedaya, valued at EGP 1.78 billion. The firm also concluded advisory on Sylndr's EGP 300 million working capital facility, in addition to a short-term note valued at EGP 433 million for EFG Corp-Solutions.
EFG Hermes acted as the sole financial advisor, transaction manager, book-runner, underwriter, and arranger for the issuance. Commercial International Bank (CIB) acted as the placement and subscription bank. Legal advisory services were provided by Dreny & Partners, while KPMG was appointed as the auditor for the issuance.
About EFG Holding
EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a financial institution that boasts a remarkable 40-year legacy of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) — the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes.
EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a provider of innovative and integrated financial solutions for small business owners and entrepreneurs, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, and EFG Finance SMEs, which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt.
Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Kenya | Nigeria
Learn more about us at www.efghldg.com
For further information, please contact:
May El Gammal
Group Chief Marketing & Communications Officer of EFG Holding
melgammal@efghldg.com
Omar Salama
Associate Director of Communications of EFG Holding
osalama@efghldg.com
The EFG Holding Public Relations Team
PublicRelations@efghldg.com
Note on Forward-Looking Statements
In this press release, EFG Holding may make forward-looking statements, including, for example, statements about management's expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Holding's belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management's control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
4 hours ago
- Arabian Post
Primrose Capital Secures ADGM Nod to Tap Gulf Family Offices
Primrose Capital Management has obtained in‑principle approval from the Financial Services Regulatory Authority of Abu Dhabi Global Market, positioning itself for full licencing and regional expansion. The firm plans to recruit portfolio‑engineering and client‑coverage specialists in Abu Dhabi and aims to launch MENA‑domiciled feeder funds in the latter part of 2025. With the Gulf family office sector estimated at approximately $500 billion, Primrose's data‑driven, machine‑learning strategies in global futures, options and digital-asset derivatives are being tailored to meet growing demand. Its flagship Global Multi‑Strategy and Digital Options programmes are expected to be accessible via its feeder funds in H2 2025. Abu Dhabi is quickly establishing itself as a magnet for global asset managers. At ADGM, the number of registered firms rose over 32 per cent last year, with assets under management more than doubling. Financial giants including BlackRock, Morgan Stanley and Marshall Wace have all entered the market, while Circle received its own in‑principle nod to operate as a money‑services provider just weeks ago. ADVERTISEMENT This upsurge reflects Abu Dhabi's strategic pivot from an oil‑dependent economy toward financial services. The emirate's comparative tax environment, adoption of English common law, and deep sovereign wealth pools have made it competitive with Dubai's DIFC, which remains the region's leading financial hub. Primrose's entry mirrors a broader trend. PGIM and Nuveen both established ADGM offices in September 2024, following a surge of interest from international asset managers. PGIM, with approximately $1.3 trillion under management, launched its first Middle East office in Abu Dhabi; Nuveen, managing $1.2 trillion, followed closely. Barings, a US group with $421 billion AUM, has outlined plans to set up an Abu Dhabi office by end‑2025. ADGM's regulatory environment, modelled on English common law, offers clarity and governance that global investors seek. Its transparent, technology‑focused rulebook is seen as a competitive advantage over other regional jurisdictions. Cost efficiency and strategic location—spanning Europe, Asia and Africa—further add to its appeal. Primrose's CIO, Linus Ong, noted that ADGM's regulatory clarity 'gives us the certainty to scale our platform while upholding the highest standards of governance and client protection'. The IPA is being regarded as a strong endorsement of the firm's quantitative, data‑driven model. Establishing a physical presence through senior hires in Abu Dhabi aims to support Primrose's goal of bridging capital from Singapore and the Gulf—an increasingly common strategic posture among asset managers building in the region. The broader context is one of escalating activity: the region's sovereign wealth funds, including ADIA, Mubadala and ADQ, invested more than $36 billion globally within the first three quarters of 2024. Combined with the entry of financial technology providers like Circle and Coinbase, this influx underlines Abu Dhabi's expanding role in both traditional and digital finance. Primrose's plan to launch feeder vehicles domiciled in the MENA region caters directly to on‑shore regulatory and tax efficiencies, aligning with preferences of Gulf investors seeking accessible, compliant exposure to systematic trading strategies. This localised fund structure is gaining traction amid tightening global scrutiny over tax and cross-border investment structures. As Primrose pursues its full financial services permission, the firm's trajectory aligns with ADGM's broader ambition to consolidate its standing as the 'Capital of Capital'. Its arrival underscores a crescendo of institutional confidence in the emirate's regulatory environment and its capacity to host sophisticated, quant‑driven investment platforms. Continued expansion among major international asset managers appears all but inevitable as Abu Dhabi's financial ecosystem deepens.
Zawya
16 hours ago
- Zawya
Egypt: Ambassador meets with the Thai Student Association (TSA70)
On 1 July 2025, His Excellency Mr. Thanawat Sirikul, Ambassador of Thailand to Egypt, met with members of the Thai Student Association in Cairo under the Royal Patronage (TSA in Cairo), 70th Committee, at the Royal Thai Embassy in Cairo. During the meeting, the Ambassador highlighted the Thai Government's student-related policy to enhance national competitiveness through the promotion of digital skills and Artificial Intelligence (AI). He also underscored the importance of foreign language proficiency—particularly in English and Arabic—as these skills are increasingly in demand in Thailand's tourism and hospitality sectors. Furthermore, in light of the current fragile security situation in the region, the Ambassador emphasized the need for students to stay informed and updated on regional developments by following the news regularly. On this occasion, the Embassy also introduced a new online certificate issuance system designed to streamline and expedite the processing of official documents. This system will be especially useful for students requiring certificates for purposes such as academic applications or scholarship requests. Additionally, members of the TSA in Cairo presented their planned activities for the upcoming semester break. These include more than ten initiatives covering areas such as academics, sports and recreation, and the overall well-being of Thai students in Cairo. In response, the Embassy expressed its continued commitment to supporting the initiatives of the TSA in Cairo. Distributed by APO Group on behalf of Royal Thai Embassy, Cairo, Egypt.
Broadcast Pro
a day ago
- Broadcast Pro
Telecom Egypt and SubCom complete landings of SEA-ME-WE-6 subsea cable
Telecom Egypt, the countrys integrated telecom operator and a subsea cables provider, together with SubCom, the global supplier of subsea data systems, has announced the completion of two critical landings of the Southeast Asia-Middle East-Western Europe 6 (SEA-ME-WE-6) subsea cable system in Egypt. The cable has now come ashore at Port Said on the Mediterranean […] Telecom Egypt, the countrys integrated telecom operator and a subsea cables provider, together with SubCom, the global supplier of subsea data systems, has announced the completion of two critical landings of the Southeast Asia-Middle East-Western Europe 6 (SEA-ME-WE-6) subsea cable system in Egypt. The cable has now come ashore at Port Said on the Mediterranean coast and at Ras Ghareb on the Red Sea. Telecom Egypt facilitated the connection between the two coastal landing points by ensuring diverse and resilient terrestrial crossing routes were in place. With this, the SEA-ME-WE-6 subsea cable has completed its landing activities in Egypt. SEA-ME-WE-6 is the sixth edition of the SEA-ME-WE cable system family. The system connects Singapore (Tuas) to France (Marseille), crossing Egypts territory terrestrially. SubCom serves as the contractor responsible for building the subsea cable system. Upon completion, the SEA-ME-WE-6 cable system will establish a strategic connection between Africa, Asia and Europe through its 17 landing points, significantly enhancing global network infrastructure. Spanning a distance of 21,700 km, the systems consortium comprises 16 major subsea cable providers, including Telecom Egypt, alongside BEYON B.S.C (Bahrain), Bangladesh Submarine Cables PLC, Bharti Airtel Ltd. (India), China United Network Communications Group Company Limited, Dhiraagu (Maldives), Djibouti Telecom, Microsoft (United States), Mobily (Saudi Arabia), Orange (France), PCCW Global , Singtel (Singapore), Sri Lanka Telecom, Telekom Malaysia, Telin (Indonesia) and Trans World Associates (Pakistan). Mohamed Nasr, Managing Director and Chief Executive Officer of Telecom Egypt, commented: 'We are thrilled to announce the successful landings of the SEA-ME-WE-6 cable system in Port Said and Ras Ghareb, marking another significant milestone in our journey to expand Telecom Egypts global reach and strengthen our subsea infrastructure. These two landings enable the connection between the Red Sea and Mediterranean segments of the cable via two diversified unique trans-Egypt terrestrial crossing routes. 'Over the years, the Eurasia route between Southeast Asia and Europe has proven its importance and effectiveness in carrying critical telecommunication traffic. Thus, we keep developing new routes to connect Singapore and Egypt, adding layers of diversity, enhanced marine paths and much-needed capacity. These strategic landings underscore our commitment to enabling countries across the region and beyond to realize their digital ambitions by investing in building a robust, resilient, and future-ready network to serve the global subsea community.' David Coughlan, President and CEO of SubCom, said: 'Our congratulations to Telecom Egypt and its consortium partners on the landings of SEA-ME-WE-6 in Port Said and Ras Ghareb, which are another major step towards the complete deployment of this expansive subsea cable system. From engineering to route design, and manufacturing to installation, SubCom has played a vital role in making SEA-ME-WE-6 a reality for its operators and their customers. Our team looks forward to the next set of milestones associated with this impressive project.'
