Arab Finance: Contact Financial Holding has concluded the 41st securitized bond issuance for the consumer finance portfolio of its subsidiary Contact Finance and affiliated companies at value of EGP 1.859 billion, according to an emailed release on June 25th.
The bond is divided into three tranches with several terms ranging between 13 and 60 months.
The tranches obtained credit ratings of AA+, AA, and A, respectively, from the Middle East Ratings and Investors Service (MERIS).
The issuance is part of Contact Financial’s EGP 10 billion securitization program.