Cairo: CI Capital (CICH.CA), the leading diversified financial services group, announced today the successful conclusion of EGP 3.035bn securitized bond issuance for Capital for Securitization, on behalf of Tasaheel Finance, who acted as the originator of the portfolio.

The issuance comes in 4 tranches: the first tranche, valued at EGP 952mn, with a tenor of 6 months, and the second tranche, valued at EGP 506mn with a tenor of 9 months, received a Prime 1 rating, the highest from Middle East Ratings and Investor Services (MERIS). The third tranche, valued at EGP 541mn, with a tenor of 13 months, received a rating of A+, while the fourth tranche, valued at EGP 1.036bn with a tenor of 34 months, received a rating of A.

“The Egyptian debt market is picking up pace across various sectors, particularly the non-banking financial services sector, as debt issuances are regarded as the perfect tool for companies to maintain their capital adequacy ratio within limits set by the FRA, as well as utilize issuance proceeds to reinforce the company's financial position, maximize profitability and return on equity while using them as a hedge against inflation. This transaction brings CI Capital’s total concluded transactions to fourteen spanning ECM, DCM, and M&A spaces, with an aggregated value exceeding EGP 38bn,” Stated Amr Helal, Chief Executive Officer (Sell-Side) of the Investment Bank at CI Capital.

“This issuance adds to CI Capital’s track record, reinforcing its position as the partner of choice to several leading companies operating in non-banking financial services, a sector often referred to as one of the most prominent sectors contributing to the development of the Egyptian economy. Tasaheel is one of the biggest players that promotes financial inclusion and works on the incorporation of micro, small, and medium Enterprises in the formal economy. CI Capital’s 12 transactions in the debt capital market space since the beginning of the year, with an aggregate value of EGP 31.387bn, represent 42% of the total non-sovereign debt issuances in the Egyptian market since the beginning of this year,” Commented Mohamed Abbas, Head of DCM at CI Capital.

CI Capital acted as sole financial adviser, issuance manager, and lead arranger in the issuance, while Matouk Bassiouny & Hennawy acted as the legal advisor and KPMG- Hazem Hassan Consulting acted as the issue's financial auditor.

About CI Capital Holding for Financial Investments

CI Capital Holding for Financial Investments is a diversified financial services group and Egypt’s leading provider of leasing, microfinance, mortgage finance, consumer finance, and investment banking products and services. Through its headquarters in Cairo and presence in New York and Dubai, CI Capital Holding for Financial Investments offers a wide range of financial solutions to a diversified client base that includes global and regional institutions and family offices, large corporates, SMEs, and high-net-worth and individual investors. CI Capital Holding for Financial Investments leverages its full-fledged investment banking platform to provide market-leading capital raising and M&A advisory, asset management, securities brokerage, custody, and research. Through its subsidiary Corplease, CI Capital offers comprehensive leasing solutions, including finance and operating leases, and sale and leaseback, serving a wide range of corporate clients and SMEs. In addition, CI Capital Holding for Financial Investments offers microfinance lending through Egypt’s first licensed MFI, Reefy. The Group has over 3500 employees, led by a team of professionals who are among the most experienced in the industry, with complementary backgrounds and skill sets and a deep understanding of local market dynamics.

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About Reefy

Reefy Microfinance Enterprise Services was established in 2007 as the first FRA licensed microfinancing enterprise in Egypt offering full-fledged financing services to 170K clients across 21 governorates.