Capital Securitization wraps up EGP 843M securitized bond issuance for Bedaya Mortgage
Updated 1/22/2024 11:48:00 AM
Arab Finance: Capital Securitization, one of GB Capital Financial Investments companies, has closed an EGP 843 million securitized bond issuance for Bedaya Mortgage Finance, as per an emailed press release.
This marks the first issuance under a multi-issue EGP 3 billion securitization program.
The Commercial International Bank (CIB) assumed the role of custodian, while the Suez Canal Bank served as the underwriter of the transaction.
Barakat, Maher & Partners, in partnership with Clyde & Co., played the role of legal advisor for the issuance, and CI Capital was the financial advisor, arranger, manager, and promoter of the issuance.
The Middle East Rating and Investors Service (MERIS) handled the role of the issuer's credit rating agency, and Hazem Hassan & Partners (KPMG) was the auditor of the bond issuance.
The issuance consisted of four tranches, the first of which is worth EGP 93 million, with a tenor of 13 months.
Meanwhile, the second tranche is valued at EGP 307 million with a tenor of 37 months and the third tranche is worth EGP 305 million and carries a tenor of 60 months.
The fourth tranche is valued at EGP 138 million, with a tenor of 77 months.
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