Al Ahly Pharos concludes advisory on AUR Securitization’s EGP 1.79B securitized bond issue

Updated 12/21/2023 1:09:00 PM
Al Ahly Pharos concludes advisory on AUR Securitization’s EGP 1.79B securitized bond issue

Arab Finance: Al-Ahly Pharos Investment Banking has successfully wrapped up advisory on AUR Securitization Company’s second issuance of its first securitization program worth EGP 1.79 billion, as per an emailed press release.

The issuance is backed by a portfolio of leasing contracts worth EGP 3.1 billion, assigned by AUR Leasing and Factoring company.

Al Ahly Pharos served as the transaction’s arranger, in addition to being an underwriter along with the Arab African International Bank and Suez Canal Bank.

The Arab African International bank was the custodian and placement agent, Dreny & Partners served as the legal advisor, and KPMG was the auditor of the transaction.

Middle East for Credit Rating and Investors Service (MERIS) was the provider of the credit rating for the issue.

The offering consists of three tranches with A+ rating for all tranches; the first of which is worth EGP 318 million with a tenor of 24 months, the second is valued at EGP 875 million with a tenor of 48 months, and the third is worth EGP 597 million with a tenor of 60 months.

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