Tawriq signs EGP 500 mn securitization issuance

Arabia Investment’s Tawriq for Securitization will issue EGP 500 mn of asset-backed securities for Raya Holding, pending the approval of the Financial Regulatory Authority, according to a disclosure to the bourse (pdf). Raya had signed last month its first securitized bond issuance for its subsidiaries, Raya Electronics, Aman Financial Services, and Aman Microfinance, worth EGP 500 mn and was reportedly seeking to issue more bonds next year.