Beltone Mortgage Completes First Securitised Bond Issuance
Deal News | Aug 20, 2025 | Zawya
Beltone Mortgage has successfully completed its inaugural securitised bond issuance worth EGP 1.32 billion, drawing significant interest with a 2.3 times oversubscription. The bonds, part of Beltone Securitizations' second programme, were structured across four tranches with varying tenors and ratings. This achievement is a testament to the strength of Beltone's mortgage portfolio and financial stance. Notable supporters of the issuance included Matouk Bassiouny & Hennawy as Legal Advisor, KPMG as External Auditor, and Abu Dhabi Commercial Bank (ADCB) as Custodian and Backup Servicer. The National Bank of Egypt, Banque du Caire, Al Baraka Bank, and Ahli Bank of Kuwait underwrote the issuance.
Sectors
- Financial Services
- Real Estate
Geography
- Egypt – The bond issuance and the financial activities described in the article are taking place in Egypt.
Industry
- Financial Services – The article discusses a financial transaction involving bond issuance within the mortgage sector, categorizing it under Financial Services.
- Real Estate – Beltone Mortgage operates within the mortgage domain, linking it to the Real Estate sector.
Financials
- EGP 1.32bn – Total value of the securitised bond issuance.
- EGP 551m – Value of Tranche A of the bond, rated AA+.
- EGP 328m – Value of Tranche B of the bond, rated AA.
- EGP 238m – Value of Tranche C of the bond, rated A-.
- EGP 203m – Value of Tranche D of the bond, rated A-.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Beltone Mortgage | Target Company | Company | Beltone Mortgage is a company involved in the securitised bond issuance. |
| Matouk Bassiouny & Hennawy | Legal Advisor | Company | Provided legal advisory services for the bond issuance. |
| KPMG | External Auditor | Company | Served as the external auditor for the bond issuance. |
| Abu Dhabi Commercial Bank (ADCB) | Custodian and Backup Servicer | Company | Acted as custodian and backup servicer in the transaction. |
| National Bank of Egypt | Underwriter | Company | Underwrote the bond issuance. |
| Banque du Caire | Placement Agent & Underwriter | Company | Served as placement agent and underwriter for the issuance. |
| Al Baraka Bank | Underwriter | Company | Participated as an underwriter in the bond transaction. |
| Ahli Bank of Kuwait | Underwriter | Company | Contributed as an underwriter for the bond issuance. |
| saib | Subscriber | Company | One of the subscribers to the bond issuance. |
| Industrial Development Bank (IDBE) | Subscriber | Company | Participated as a subscriber to the securitised bond. |
| Housing and Development Bank | Subscriber | Company | Involved as a subscriber in the bond issuance. |