Aman wraps securitized bond sale for its consumer finance arm: Aman Holding — a wholly-owned subsidiary of EGX-listed Raya Holding — raised EGP 665.5 mn in its latest securitized bond issuance for its consumer finance arm Aman Consumer Finance, according to a statement(pdf). This is the firm’s third transaction executed via Aman Securitization.

A three-tranche issuance: The offering’s six-month tranche of EGP 307 mn and 12-month tranche of EGP 222 mn were rated as Prime 1 by the Middle East Ratings and Investor Service (MERIS), according to a separate statement (pdf) from issuance manager CI Capital. The offering’s 23-month tranche of EGP 136.5 mn received a rating of A – from MERIS.

IN CONTEXT- The move falls under the group’s securitization program, which launched in February 2023. It comes a little over six months after an EGP 1.08 bn securitized bond issuance for Aman Consumer Finance and nine months following an earlier EGP 1.29 bn issuance.

What they said: “Since the launch of our securitization program, we have successfully completed issuances totaling nearly EGP 9.7 bn to date, which stands as a testament to our commitment to sustainable growth” Aman Holding Co-CEO of Business and Commercial Affairs Hazem Moghazi said.

ADVISORS- CI Capital acted as a financial advisor, lead arranger, general coordinator, issuance manager, and placement agent on the issuance. Zaki Hashem & Partners was appointed as the legal advisor, and United Auditors for Audit, Tax, Consultancy, and Services served as the financial auditor.

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