Egypt: AUR Capital acts as advisor to securitized bond issuance worth $25.52mln

Egypt: AUR Capital acts as advisor to securitized bond issuance worth $25.52mln

Egypt - AUR Capital has announced that it has acted as the advisor in the process of issuing securitized bonds at a value of EGP 790m, in cooperation with Al-Ahly Pharos to promote and cover IPOs.

The issuance comes with the guarantee of the portfolio transferred from the AUR Financial Leasing and Factoring Company, which is secured by a portfolio of deferred financial rights for financial leasing contracts worth about EGP 1.112bn.

The issuance was covered by the National Bank of Egypt, Banque Misr, and Al-Ahly Pharos. Banque Misr also received the subscription and acted as the custodian. Ali El-Din Weshahi “ALC” and their partners for law and legal advice acted as the legal advisor for the offering, and Hazem Hassan KPMG Corporation as the auditor. The Middle East Credit Rating and Investor Service Company “MERIS” granted the credit rating for the issuance.

Ashraf Salman, Chairperson of AUR Capital, expressed his pride in completing the first issuance of securitization bonds for the benefit of AUR Securitization Company, by guaranteeing the portfolio transferred from AUR Financial Leasing and Factoring Company, in partnership with Al-Ahly Pharos for promotion and underwriting, pointing out that this joint work will open more prospects for cooperation between the two