CI Capital wraps up EGP 1.29B securitized bond issuance for Aman Consumer Finance
Updated 9/18/2024 10:58:00 AM
Arab Finance: CI Capital has concluded a securitization bond issuance, on behalf of Aman Securitization Company, for Aman Consumer Finance at a value of EGP 1.29 billion, as per an emailed press release.
The securitization, issued in six tranches, marks the fifth issuance of a wider three-year program worth EGP 5 billion.
The first tranche is valued at EGP 231.2 million, with a tenor of six months, while the second one is worth EGP 266 million, with a tenor of 12 months.
Both tranches received a Prime 1 rating from Middle East Ratings and Investor Services (MERIS).
The third tranche is valued at EGP 313 million, with a tenor of 24 months, receiving a rating of AA, whereas the fourth one is worth EGP 202 million, with a tenor of 36 months, receiving a rating of AA-.
The fifth tranche, valued at EGP 175 million, has a tenor of 48 months and received a rating of A+, while the sixth one, valued at EGP 110 million, has a tenor of 60 months and received a rating of A.
CI Capital served as the sole financial advisor, issuance manager, bookrunner, and lead arranger for the deal.
Zaki Hashem & Partners was legal advisor, while United for Auditing, Tax, Advisory & Financial Services (UHY) acted as the issuance’s financial auditor.
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