Egypt’s CI Capital, a diversified financial services group, has concluded a 1.1 billion EGP securitized bond issuance for Al Taamir for Leasing and Factoring CO (Al Oula), according to a press release.
The bond was offered in three tranches: tranche A is valued at EGP 196 million with a tenor of 13 months and a credit rating of AA+ from Middle East Ratings and Investors Service (MERIS), tranche B worth EGP 593 million with a tenor of 37 months and a credit rating of AA from MERIS, and tranche C worth EGP 419 million with a tenor of 53 months and a credit rating of A from MERIS, the press release added.
CI Capital served as the financial adviser, issuance manager, and lead arranger on the transaction, while Banque du Caire and Arab African International Bank (AAIB) served as underwriters and promoters.
Banque du Caire was the subscription reception entity, while Dreny and Partners was the legal advisor and Baker Tilly was the issue’s financial auditor.
CI Capital’s team successfully executed 3 debt issuances since the beginning of 2023, as the company continues to build a healthy deal pipeline and boost its leadership, according to Mohamed Abbas, Head of DCM at CI Capital. 1US$=30.59EGP
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