Cairo – Mubasher: Aman Securitization, a subsidiary of Aman Holding, the business line of the listed Raya Holding For Financial Investments, has issued its third securitised bond issuance at a value of EGP 1.14 billion.
Assigned through Aman Financial Services and Aman Consumer Finance, the offering aligns with the multi-issuance programme of securitisation bonds at a maximum value of EGP 5 billion.
The third issuance of the programme was auctioned in four tranches with varied maturities, ranging from short to medium-term, according to a bourse statement.
CI Capital Holding for Financial Investments and Al Ahly Pharos acted as the co-lead-arrangers and lead coordinators for the bond issuance, while Zaki Hashem & Partners (ZH&P) acted as legal auditors and advisors.
Meanwhile, United for Auditing, Taxation, Advisory, and Financial Services (UHY-Egypt) served as the independent financial auditor.
The credit rating for the issuance has been undertaken by the Middle East Rating & Investors Service (MERIS), the regional Moody's Investor Services affiliate (Moody's).
Moreover, the National Bank of Egypt (NBE) and the African International Bank (AAIB) acted as the lead underwriters and investors for the issuance. The NBE was also the subscription's recipient bank and custodian for the issuance.
Hossam Hussein, Chairman of Aman Securitization, underlined that Aman has completed six issuances in the past three years.
In addition, Hussein highlighted Aman's plans to continue issuing securitised bonds in the future, targeting between two to three issuances annually to support financial portfolios of Aman.
