Al Ahly Pharos Successfully Concludes Advisory on Al Tawfeek for Securitization’s Fifth Securitization Issuance Worth EGP 1.459 billion

Cqiro 03 Dec 2024:

Al-Ahly Pharos investment banking, which represent the Investment banking arm of the National Bank Of Egypt, announced today that they acted as a financial advisor, transaction lead manager, and book-runner, for Al Tawfeek for Securitization’s fifth securitization issuance, valued at EGP 1.459 billion secured by a portfolio of EGP 2.41 billion assigned from Al Tawfeek Leasing Company, in collaboration with Commercial International Bank and CI Capital.

Also, this transaction was carried out in cooperation with Al-Ahly Pharos, National Bank of Egypt, Commercial International Bank, Arab African International Bank, and Banque du Caire, who acted as the transaction’s underwriters. while National Bank of Egypt as the placement agent and Banque Misr acted as the custodian, ALC Alieldean Weshahy 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 agency for the issue.

The bond is comprised of 3 tranches rated by Middle East Rating Services (MERIS) as AA+, AA and A respectively. The first tranche is worth EGP 621 million with a tenor of 25 months, the second is worth EGP 492 million with a tenor of 37 months and the third is worth EGP 346 million with a tenor of 48 months.

About Al-Ahly Pharos Investment Banking S.A.E.

Al-Ahly Pharos Investment banking, which is part of the National Bank of Egypt Group, is one of the leading investment banks in the Egyptian capital market operating in both Debt Capital Markets, Equity Capital Markets, as well as mergers and acquisitions sector in Egypt The company providing integrated financial services. It relies on the strength of the National Bank of Egypt Group and holds a leadership position in the investment banking market, securities trading, research, asset management, and debt roles such as securitization and sukuk.

About A.T.Lease

Al Tawfeek Leasing Company “A.T LEASE” is an Egyptian joint stock company, namely the only company in the leasing and factoring industry listed in EGX, with the IPO having taken place in December 2017. The company’s activity commenced as of October 9, 2006 to be the first Leasing company compatible with Islamic Sharia in Egypt. The company’s mission is to contribute to the growth of the Egyptian economy by offering integrated and innovative Leasing & Factoring solutions to support the healthy growth of a wide range of corporations.