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Beltone Subsidiary Wraps Up First Securitization Issuance Worth Over EGP 1 Billion
- What: Beltone (BTFH) announced that its subsidiary, Beltone Mortgage Finance, completed its first securitization issuance valued at over EGP 1 billion, carried out under Beltone Securitization’s second program.
- So What: The issuance was 2.3x oversubscribed, reflecting strong investor confidence in Beltone Mortgage’s portfolio quality and financial strength.
- Claps Class: Securitization bonds are financial instruments backed by future installment payments. They provide companies with instant liquidity, while investors enjoy stable, fixed returns.
- Now What: The issuance came in four tranches, with maturities ranging between 2 and 5 years, and credit ratings ranging from (+AA) to (A-).
Valu Completes 17th Securitization Issuance at EGP 460.7 Million
- What: Valu (VALU) finalized its 17th securitization issuance, worth EGP 460.7 million, in partnership with investment bank EFG Hermes, part of EFG Holding (HRHO).
- So What: This marks the first issuance under Valu’s new EGP 10 billion securitization program, making it the company’s fourth such program to date.
- Now What: Karim Riad, Valu’s CFO, said the issuance is a “pivotal step” in the company’s ongoing efforts to diversify funding sources and strengthen its capital structure.
He added that it underscores Valu’s commitment to expansion and its ability to tap different capital markets.
- What: Contact Financial Holding (CNFN) posted an adjusted net profit of about EGP 164 million for the first half of the year, alongside consolidated operating income of over EGP 1 billion.
- So What: Net profit declined 17% year-on-year due to higher costs. However, operating income grew 24%.
- Now What: Contact expects financing and insurance to drive growth going forward and is eyeing regional markets with strong potential.
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