Egypt: CI Capital concludes $484mln securitised bond issuance

Egypt: CI Capital concludes $484mln securitised bond issuance

Cairo – CI Capital Holding for Financial Investments has completed nearly EGP 15 billion securitised bond issuance on behalf of Al Taamir Securitization, the originator of the New Urban Communities Authority (NUCA). CI Capital acted as the financial adviser, the issuance manager, and the lead arranger in the issuance, according to a press release. The offering covers four tranches, with the first issue valued at EGP 1.70 billion, holding a tenor of 12 months. It was granted a Prime 1 rating from Middle East Ratings and Investor Services (MERIS). The second tranche, which received an AA rating, stood at EGP 6.06 billion and will mature in 36 months. Meanwhile, the third tranche amounted to EGP 5.82 billion, with a maturity period of 60 months. It received a rating of AA-. With a rating of A-, the fourth auction hit EGP 1.41 billion, carrying a tenor of 74 months. Amr Helal, CEO of the Investment Bank at CI Capital, “Since the beginning of 2023, CI Capital has completed 7 transactions across[enterprise content management] ECM, DCM, and [mergers and acquisitions] M&A, with an aggregated value reaching around EGP 27 billion.” “From advisory on debt issuances, fixed income brokerage, as well as management