Cairo – Aman Securitization Company, a subsidiary of Aman Holding and listed Raya Holding Company for Financial Investments, has issued its first securitisation bonds at a value of EGP 403.40 million.
This came after Aman Securitization obtained the needed regulatory and legal approvals for the issuance process, according to a press release. The offering aligns with the company’s multi-issuance programme of securitisation bonds at a maximum value of EGP 5 billion over three years, with a nominal value of EGP 100 per bond.
CI Capital Holding for Financial Investments acted as the financial advisor and lead arranger for the offering, while Commercial International Bank-Egypt (CIB) and the National Bank of Egypt (NBE) were the underwriters.
The issuance will be offered over three tranches. The first and second auctions are medium-term with a maturity period of 13 and 37 months, respectively.
Meanwhile, the third tranche holds a long-term tenor of 56 months, with an average relative return of 18%.
Hazem Moghazy, CEO of Aman Holding, recently pointed out that the company injected investments amounting to EGP 90 million in 2022.
Last year, Raya Holding generated consolidated net profits after tax worth EGP 419.23 million, an annual drop from EGP 541.38 million, including minority interest.
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