Cairo - Mubasher: Capital for Securitization Company has closed its fourth securitization issuance at a value of EGP 3.52 billion under the 12th program.
The transaction is secured by a portfolio worth EGP 4.27 billion assigned by Tasaheel for Financing, according to a press release.
Al Ahly Pharos Investment Banking, the investment banking arm of the National Bank of Egypt (NBE), acted as financial advisor, lead arranger, underwriter, and book-runner for the transaction.
The issuance was also underwritten in cooperation with NBE, Suez Canal Bank, and several subscribing banks, including Bank NXT, Housing and Development Bank, and Arab Banking Corporation (ABC).
The bond consists of two tranches rated by the Middle East for Credit Rating and Investors Service (MERIS) as 'P1' and 'A-'.
The first tranche, worth EGP 1.84 billion, has a 12-month tenor. Meanwhile, the second tranche, which amounts to EGP 1.67 billion, has a 24-month tenor.
Matouk Bassiouny & Hennawy acted as legal advisor, whereas Baker Tilly served as the auditor.
