Cairo: CI Capital (CICH.CA), the leading diversified financial services group, announced today the successful conclusion of two securitization bond issuances, on behalf of Tamweel Securitization Company – the originator of Tamweel Mortgage’s Portfolio – and on behalf of GlobalCorp Securitization Company, the originator of GlobalCorp Financial Services’ Portfolio, with an aggregate value of EGP 2.882 billion.

Tamweel Mortgage’s EGP 1.598 billion issuance comes in five tranches: the first valued at EGP 206 million, with a tenor of 13 months at an AA+ credit rating from Middle East Ratings and Investor Services (MERIS). The second tranche valued at EGP 614 million, with a tenor of 37 months, received a credit rating of AA. The third tranche, valued at EGP 419 million, with a tenor of 61 months, received a credit rating of AA-. The fourth tranche, valued at EGP 290 million, with a tenor of 84 months, received a credit rating of A. The fifth tranche, valued at EGP 67 million, with a tenor of 119 months, received a credit rating of A-.

GlobalCorp’s EGP 1.284 billion issuance comes in four tranches: the first valued at EGP 200 million, with a tenor of 13 months at an AA+ credit rating from MERIS. The second tranche, valued at EGP 533 million, with a tenor of 37 months, received a credit rating of AA. The third tranche, valued at EGP 484 million, with a tenor of 60 months, received a credit rating of A+. The fourth tranche, valued at EGP 67 million, with a tenor of 70 months, received a credit rating of A.

Amr Helal, Chief Executive Officer (Sell-Side) of the Investment Bank at CI Capital stated, “I am proud of the team’s ability to successfully execute two back-to-back issuances in record time. CI Capital seeks to build on its successful track record and leading market position as the top advisory house in Egypt by offering a one-stop-shop advisory service to its network of clients. The successful conclusion of these two issuances and investor appetite in underwriting reflect the Group’s ability to provide innovative and compelling financial solutions to issuers and investors alike.”

“The outlook for Egypt’s debt capital markets is very promising in light of growing investor interest, and increased awareness among companies about the role of debt issuances as a source of liquidity that enable business to seize growth opportunities. CI Capital aims at capturing the expected uptick in Egypt’s debt capital markets to cement its position as the leading DCM advisory house in Egypt, and to emulate its success across all investment banking services spanning M&A, capital markets and initial public offerings,” Concluded Helal.

From his side, Khalil El Bawab, CEO of Misr Capital and Board Member at the Egyptian Fixed Income Association echoed the same projections, commenting that, “The secondary debt market in particular is lined for a further uptick in terms of volume and number of investors; especially in light of the FRA and EGX’s cooperation with all market stakeholders to continuously evolve the regulatory environment governing fixed income trading.”

“The increased activity in debt capital markets encourages even more companies to explore debt issuances as a lateral source of financing that enables them to expand their operations and seize market opportunities,” Concluded El Bawab.

Mohamed Abbas, Head of DCM at CI Capital noted, “The DCM roster at CI Capital has a recent track record of advising on 54% of non-sovereign issuances in Egypt during 2021. I look forward to building on that momentum by utilizing CI Capital’s broad network of clients to increase our market share.”  

CI Capital acted as financial adviser, issuance manager and lead arranger in both issuances.

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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 2,900 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.