Al Taamir Leasing and Factoring Al Oula has closed a EGP 1.1 bn securitized bond issuance, transaction advisor CI Capital said ina statement(pdf) yesterday. The issuance came in three tranches with tenors ranging from 13-53 months and ratings of AA+, AA, and A by the Middle East Rating and Investors Service (MERIS).

Who bought in? Banque du Caire and Arab African International Bank were underwriters on the issuance.

More to come: This was the first issuance in a EGP 5 bn program, Dreny & Partners, which provided counsel on the transaction, said in a statement.

Advisors: CI Capital was the financial advisor, the issuance manager, and lead arranger for the issuance. Banque du Caire and Arab African International Bank were the promoters. Banque du Caire acted as the subscription bank, while Dreny & Partners provided counsel and Baker Tilly acted as the financial auditor.

The securitization market in 2023: This brings the total securitized bonds brought to market so far this year to some EGP 14.4 bn, up more than 45% from the same period last year.

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