Palm Hills Developments (PHD), one of Egypt’s foremost real estate developers, together with EFG Hermes—an EFG Holding company and the leading investment bank across the Middle East and North Africa (MENA)—announced today the successful completion of a securitized bond issuance valued at EGP 2.015 billion.
This transaction marks the inaugural issuance under PHD’s recently approved EGP 30 billion securitization program.
The issuance was divided into four tranches:
Tranche A: EGP 423.15 million, 13-month tenor, rated AA+
Tranche B: EGP 906.75 million, 36-month tenor, rated AA
Tranche C: EGP 594.425 million, 60-month tenor, rated A+
Tranche D: EGP 90.675 million, 84-month tenor, rated A-
Maie Hamdy, Managing Director of Debt Capital Markets at EFG Hermes, stated that the firm is proud to finalize this latest securitization for PHD under its new EGP 30 billion program.
She highlighted that the transaction demonstrates sustained investor demand for high-quality, well-structured real estate-backed securities, while also reflecting the strength of Palm Hills’ asset portfolio.
She added that the deal further cements EFG Hermes’ leading role in Egypt’s debt capital markets and underscores its commitment to structuring tailored financing solutions that help clients achieve their long-term expansion goals.
Ali Thabet, Chief Financial Officer of Palm Hills Developments, expressed his satisfaction with continuing the long-standing partnership with EFG Hermes through the successful completion of the first issuance under the new program. He noted that the transaction highlights Palm Hills’ ability to efficiently tap diversified funding sources.
He also pointed to the strong investor interest expected in the offering as a sign of market confidence in the company’s financial strength and growth prospects. Thabet confirmed that Palm Hills is planning another securitization transaction within the program later this year, as the company continues to utilize such financing tools to accelerate construction progress across its developments.
EFG Hermes acted as sole financial advisor, sole bookrunner, and underwriter for the issuance. ALC Alieldean Weshahi & Partners served as legal advisor, while KPMG was appointed as auditor. National Bank of Egypt (NBE) and Suez Canal Bank participated as underwriting banks. Arab Banking Corporation (ABC) and Emirates NBD (ENBD) also subscribed to the issuance. Suez Canal Bank took on the role of custodian, and NBE acted as placement agent.
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