CI Capital Wraps up EGP 1.04B securitized bond issuance for Aman Consumer Finance
Updated 6/10/2024 12:38:00 PM
Arab Finance: CI Capital has finalized a securitization bond issuance for Aman Securitization Company at a value of EGP 1.04 billion, with Aman Consumer Finance Company as the assignor and creator of the portfolio, as per an emailed press release.
The securitization, issued in four tranches, marks the fourth issuance in a wider three-year program worth EGP 5 billion.
The first tranche is valued at EGP 493 million with a six-month maturity period, while the second tranche is worth EGP 246 million and has a nine-month maturity period.
The third tranche, valued at EGP 165 million, comes with a 13-month maturity period and the fourth tranche is valued at EGP 136 million with a 24-month maturity period.
These tranches received high credit ratings from the Middle East Credit Rating and Investor Service Company (Meris), with the first and second tranches rated Prime 1, and the third and fourth tranches rated A.
CI Capital acted as the sole financial advisor, arranger, general coordinator, issuance manager, and subscription promoter for the deal.
Zaki Hashem & Partners served as legal advisor.
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