First securitized bond issuance for Enmaa Finance Company

First securitized bond issuance for Enmaa Finance Company

Al-Ahly Pharos investment banking a subsidiaries of Al-Ahly Financial Services Group, which represents the integrated investment arm of the National Bank of Egypt, announced that Al Ahly Pharos Debt Capital Market (DCM) team successfully closed Enmaa Financial Company first securitization issuance worth EGP 759 million secured by a portfolio of EGP 1.161 billion assigned to Al Ahly Securitization Company as the issuance’s special purpose vehicle (SPV) by Enmaa Finance Company, marking Al Ahly Securitization Company’s first issuance of the first program, whereby Al Ahly Pharos acted as the sole financial advisor, sole transaction manager and book-runner, and arranger of the issuance, and BDC as arranger of the issuance while Al-Ahly Pharos, National Bank of Egypt, Banque Du Caire and Arab African International Bank acted as the transaction’s underwriters. Arab African Bank acted as custodian and Banque Du Caire as the placement agent, Dreny & Partners acted as the legal advisor, and Baker Tilly as the auditor of the transaction, while MERIS "Middle East for Credit Rating and Investors Service", acted as the credit rating for the issue.

Ahmed Heider CEO & Managing Director of Al Ahly Pharos Investment Banking Group has expressed his contentment about the closure of the first issuance