Egypt’s Aman Holding is planning to issue securitization bonds worth EGP5 billion ($98.7 million) during 2025, a company executive has said.

The company, which is controlled by the Cairo bourse-listed Raya Holding, has also reached the final stage of completing the issuance of sukuk (Islamic bonds) worth EGP3 billion ($59 million).

The planned issuance coincides with an expected boom in securitization and company bonds in Egypt following a 36.2% decline in 2024 after Egypt’s decision to raise rates by 8%.

“There will probably be three issuances with a value of EGP5 billion… we are currently working on one issue worth EGP1 billion ($19.7 million),” Ali El-Moraly, Aman’s Chief Financial Officer, told Zawya.

El-Moraly did not mention dates for the new issue, but he noted that Aman has issued securitization bonds with a total value of EGP10 billion ($197 million) since it was founded in 2020.

Aman, with a capital of EGP2 billion ($39.5 million), is 76% owned by Raya Holding while 24% is held by the government-controlled National Bank of Egypt.

The company has several affiliated firms including Aman for Project Finance, Aman for Consumer Finance, Aman for E-Payment and Aman for Securitization.

Hossam Hussein, Chief Financial Officer for financial investments at Raya Holding, said Aman has reached the final stage of completing the issuance of EGP3 billion sukuk, adding that this plan was announced last year.

“The financial regulatory authority has approved the sukuk plan… only prospectus of the issuance is left,” Hussein said.

He revealed that it has been fully covered by several investors, but did not provide further details.

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