The New Urban Communities Authority completed its eighth issuance, raising EGP 20 bn, according to a statement (pdf) from counsel Dreny and Partners. The issuance was backed by a receivables portfolio from the authority and structured into three tranches rated AA+, AA, and AA- by Meris.

ADVISORS- Al Ahly Pharos, CI Capital, CIB, and AAIB acted as financial advisors and lead arrangers. CIB, NBE, AAIB, Al Baraka Bank Egypt, and the Suez Canal Bank were underwriters. AIIB acted as bookrunner, CIB as custodian, and Baker Tilly as auditor.

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