Aur Leasing closes second securitized bond issuance in as many months: The leasing arm of private equity outfit Aur Capital has closed a EGP 1.1 bn securitized bond issuance, Dreny & Partners, the legal firm that worked on the transaction, said in a statement (pdf) yesterday. The three-tranche issuance is backed by a portfolio of Aur Leasing and Factoring’s receivables and is part of a wider EGP 8 bn, three-year program. The firm closed aEGP 790 mn issuance in April. All tranches of the bonds were rated A+ by the Middle East Rating and Investors Service (MERIS).

Advisors: The Arab African International Bank acted as financial advisor, bookrunner, and custodian, it is also the only disclosed subscriber to the transaction. Aur Financial Advisory also acted as financial advisor, while KPMG was auditor. Dreny & Partners provided legal advice.

A good year for securitization: This issuance pushed the total value of securitized bond issuances this year to EGP 15.5 bn, up 35% from the same period last year.

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