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Amer Group’s units complete EGP 607m securitised bond sale

Amer Group’s units complete EGP 607m securitised bond sale
The three tranches were rated at AA+, AA, and A, by MERIS
Amer Group
AMER
1.58% 1.15 0.02

Cairo – Mubasher: The Financial Group For Securitization closed a three-tranche securitised bond issuance worth EGP 607 million for four of Amer Group Holding Co’s subsidiaries.

The three tranches were rated at AA+, AA, and A, respectively, by Middle East Credit Rating and Investors Service (MERIS), Amer Group said in a bourse disclosure on Thursday.

During the first nine months of 2020, Amer Group achieved net profits of EGP 9.98 million, down from EGP 39.38 million in the corresponding period a year earlier, including minority shareholders’ rights.