EFG Hermes, the leading investment bank in Frontier and Emerging Markets (FEM) under EFG Holding and Palm Hills Developments (PHD), a leading real estate developer in Egypt jointly announced Monday the successful closing of an EGP 421m securitized bond, the second issuance in a newly approved EGP 5bn programme. The issuance is structured in three tranches. Tranche A is valued at EGP 50.52m with a tenor of 13 months and a credit rating of AA+ from Middle East Ratings and Investors Service (MERIS). Tranche B is valued at EGP 155.77m with a tenor of 36 months and a credit rating of AA from MERIS. Finally, Tranche C, which is valued at EGP 214.71m with a tenor of 84 months and a credit rating of A from MERIS.