Egypt – CI Capital has entered into an agreement to issue securitization bonds in favor of Aman for Financial Services, worth EGP 403.4 million, under a multiple issuance program worth EGP 5 billion EGP which extends over 3 years.
The issue consists of three tranches, the first one worth EGP 70.1 million with a maturity of 13 months, the second one worth EGP 231.3 million with a maturity of 37 months and the third worth EGP 102 million. with a nominal value of EGP 100 with a maturity of 56 months.
The tranches have been awarded distinguished credit ratings by MERIS (Middle East Rating & Investors Service), with the first tranche being rated AA+, the second tranche an AA rating and the third an A rating.
Amr Helal, CEO of CI Capital’s sell-side investment bank, said the year started with significant issuance in the non-banking financial services company sector, especially as the issuance comes after a series of important operations that the company has carried out. since the last quarter of last year.
He added that CI Capital looks forward to completing more transactions of all kinds in the current year.
For his part, Mohamed Abbas, Head of DCM at CI Capital, said the completion of this year’s first issues earlier this year reflects client and investor confidence in CI Capital and the debt instruments market, which a has recently experienced positive growth and an increase in issue values.
Abbas added that the show helps boost funding for the consumer credit industry, which has become a source of interest for a large segment of consumers in light of the current circumstances.
In October 2022, CI Capital successfully completed two securitization bond issues, on behalf of Tamweel Securitization Company – the portfolio originator of Tamweel Mortgage – and on behalf of GlobalCorp Securitization Company, the portfolio originator of GlobalCorp Financial Services, with an aggregate value of EGP 2.882 billion.
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