Egypt: CI Capital concludes securitized bond issuance worth $35mln for Al Tameer
- Date: 23-May-2023
- Source: Zawya
- Sector:Financial Markets
- Country:Egypt
Egypt: CI Capital concludes securitized bond issuance worth $35mln for Al Tameer
CI Capital announced Sunday the successful conclusion of a EGP 1.1bn worth of securitized bond issuance on behalf of Al Tameer Securitization.
The issuance comes in three tranches: the first valued at EGP 196m, with a tenor of 13 months at an AA+ rating from Middle East Ratings and Investor Services (MERIS). The second tranche, valued at EGP 593m, with a tenor of 37 months, received an AA rating. The third tranche, valued at EGP 419 mn, with a tenor of 53 months, received a rating of A.
“Investors’ increased appetite for debt issuances as a source of diversification and investment into attractive yield products and the continued increase in awareness among companies regarding the flexible financing solutions that these issuances avail, have all contributed to a sustainable growth in the Egyptian debt capital market.
CI Capital as a leading player in the space will continue to play a leadership role in further developing the breadth and depth of the market with innovative structures and solutions for issuers and investors,” stated Amr Helal, Chief Executive Officer (Sell-Side) of the Investment Bank at CI Capital.
“CI Capital looks forward to continuing its DCM momentum and continuing to reinforce its leadership across all advisory spectrums whether