Sarwa is likely to tap the Sukuk market within a month. The EGP 2.5 billion offering will be completed as early as the end of October, Sarwa Promotion and Underwriting Managing Director Ayman El Sawy told Alborsanews website.
Sarwa Capital signed an agreement with Banque Misr and Misr Capital Company to guarantee, promote and cover the issuance of Sukuk of Contact Finance, El Sawy said.
Sarwa will be the second Sukuk issuance to hit the Egyptian market after Talaat Moustafa Group’s (TMG) offering earlier this year.
Earlier, Amer Group will issue its first corporate Sukuk offering of EGP 2 billion.
Amer Group signed consumer- and structured-finance player Sarwa Capital and Misr Capital Investments, Banque Misr’s investment arm, as advisors on the corporate Sukuk issuance in July.
Copyright © 2020 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).