EFG Hermes Concludes Advisory on Badr University’s EGP 500 Million Future Cash Flow Securitization
تاريخ النشر: 2nd, January 2025 GMT
EFG Hermes Concludes Advisory on Badr University’s EGP 500 Million Future Cash Flow Securitization
EFG Hermes، an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA) announced today that its investment banking division successfully concluded advisory on a future cash flow securitization issuance worth EGP 500 million for Badr University in Assiut (BUA)، one of CIRA’s flagship universities.
The bond is backed by future revenues generated by BUA. It is comprised of three tranches with variable yields، structured as follows:
Tranche A – Valued at EGP 62.5 million، with a 34-month tenor، a credit rating of A from Middle East Rating and Investors Service (MERIS)، and a variable interest rate
Tranche B – Valued at EGP 155 million، with a 58-month tenor، a credit rating of A from MERIS، and a variable interest rate
Tranche C – Valued at EGP 282.5 million، with an 82-month tenor، a credit rating of A from MERIS، and a variable interest rate
Maie Hamdy، Managing Director - Debt Capital Markets at EFG Hermes commented، “After the success of our first two future cash flow issuances for CIRA، we are proud to continue leveraging our debt capital market knowledge structure to offer innovative financial solutions that allow educational institutions like BUA to unlock their full potential. By tapping into future cash flow securitization، BUA is now positioned at an advantage to strengthen its operational and developmental capabilities to meet the growing demand for top-notch education in Egypt.”
This transaction comes as the latest in a string of debt issuances advised on by EFG Hermes in the region. EFG Hermes recently concluded advisory on Sylndr’s EGP 300 million working capital facility. It also recently advised Valu on its thirteenth securitized bond issuance worth EGP 519.2 million، as well as the fifth securitization for Bedaya valued at EGP 1.78 billion. It also completed a short-term note valued at EGP 433 million for EFG Corp-Solutions back in June and a senior unsecured short-term note for Hermes Securities Brokerage Company (HSB) in an EGP 600 million transaction.
EFG Hermes acted as the sole financial advisor، transaction manager، book-runner، underwriter، and arranger for this issuance. The transaction’s key partners include Suez Canal Bank as the subscription bank as well as an underwriter along with Al Baraka Bank was an underwriter، Abu Dhabi Commercial Bank as the subscriber، Ahli United Bank as the custodian bank، Zulficar، and Partners Law Firm as the legal advisor، and PwC as the auditor.
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SSIF’s assets grew by JD 1.7 billion to reach nearly JD 18 billion at the end of Q3 2025
صراحة نيوز –
The Social Security Investment Fund (SSIF) reported a record performance for the first nine months of 2025, with total assets nearing JD 18 billion by the end of September — an increase of JD 1.7 billion, or 10.6 percent, since the beginning of the year.
This growth was driven by an increase in total income, which advanced to JD 1.6 billion compared with JD 664.5 million for the same period last year — a 133.5 percent increase — along with the JD 164 million surplus transferred from the Social Security Corporation.
Total income was primarily derived from JD 809.6 million in realized income from the Fund’s investment portfolios and JD 741.7 million in revaluation gains from its strategic equity holdings.
Net income generated from the Fund’s diversified portfolios grew by 16 percent year-on-year, supported by income of JD 454.6 million from bonds, JD 222.4 million from equities, and JD 104.9 million from money-market instruments, in addition to returns from loan and real-estate investments.
The Fund’s assets were mainly allocated to bonds 57.8 percent, equities 18.2 percent, money-market instruments 12.6 percent, real estate 5 percent, loans 3.2 percent, and tourism investments 1.8 percent.
Chairman of the Investment Board, Omar Malhas affirmed that the results achieved during the year reflect the Fund’s solid and disciplined investment approach, which is based on long-term planning, diversification of investment instruments, and investment in viable projects that add value to the national economy.
He added that the Fund continues to strengthen its position as a pivotal national partner in implementing major strategic projects that form a key pillar of sustainable growth in the Kingdom—most notably through its participation in the National Water Carrier Project. He further noted the Fund’s commitment to pursuing investments that enhance portfolio diversification and align with the objectives of the Economic Modernization Vision.
Malhas emphasized that these strategic ventures demonstrate the Fund’s investment-driven national mission to generate sustainable returns that reinforce its financial strength. He added that this approach also reflects the Fund’s enduring institutional role in supporting the Kingdom’s economic framework and promoting a stable, efficient, and forward-looking investment environment.
SSIF CEO, Dr Izzedine Kanakrieh, stated that the Fund continued during the third quarter to translate its investment plans into tangible results through active portfolio management and prudent decision making, reflecting mature and disciplined policies.
He noted that the Fund has strengthened its holdings in several strategic listed companies on the Amman Stock Exchange, guided by a measured approach based on thorough evaluation and well-studied opportunities that enhance value and reinforce the Fund’s long-term position. This approach, he said, reflects confidence in Jordan’s capital-market outlook and underscores the Fund’s commitment to institutional investment practices that balance return and sustainability.
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The Social Security Investment Fund will continue to implement its long-term investment strategy, guided by an institutional approach that combines efficiency and sustainability, and enhances its enduring contribution to Jordan’s economic and social progress and development.
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