INVESTMENT WATCH- Sarwa closes EGP 1.8 bn of securitization bonds: Our friends at structured and consumer finance house Sarwa Capital closed the issuance of EGP 1.8 bn worth of securitization bonds in a press release (pdf). The latest issue is backed by the portfolios of Contact Auto Credit and its affiliates and consists of three tranches of 13-month, three-year and five-year bonds, all of which carry an investment-grade credit rating. CIB, Banque Misr, AAIB, and Ahli United Bank underwrote the issuance. Our friends at Arab Legal Consultants were legal counsel on the transaction.

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