Arab Finance: The diversified financial services group CI Capital has concluded an EGP 859 million securitized bond issuance for Aman Financial Services, CI Capital said in an emailed press release on July 30th.
This marks the second issuance within the three-year program which is valued at EGP 5 billion.
The bond was offered in four tranches: the first is valued at EGP 275 million with a tenor of 6 months and a credit rating of Prime 1 from the Middle East Ratings and Investors Service (MERIS) and the second is worth EGP 161 million with a tenor of 9 months and a credit rating of Prime 1.
The third tranche amounts to EGP 175 million with a tenor of 13 months and a credit rating of AA+ from MERIS and the fourth is worth EGP 247 million with a tenor of 24 months and a credit rating of A.
CI Capital served as the financial adviser, issuance manager, and lead arranger in the issuance, while the National Bank of Egypt (NBE) and First Abu Dhabi Bank (FAB) acted as underwriters.