Elmobasher for car financing to issue up to EGP 500 mn of securitization bonds

Car financing firm Elmobasher is planning to issue between EGP 400-500 mn of securitization bonds to provide liquidity for expansions, unnamed sources tell Al Mal. A subsidiary of Arabia Investment, Development, and Financial Holding Company (AIND) will manage the issuance with the participation of CIB and the National Bank of Egypt. The issuance is expected to be divided into three categories, with bonds carrying tenors of 12 months, 3 years, and 5 years.