Al Ahly Tamkeen closes second securitized bond issuance under current program

The National Bank of Egypt’s microfinance arm, Al Ahly Tamkeen, closed a EGP 777 mn securitized bond issuance, according to a statement (pdf) from transaction advisor Al Ahly Pharos. The issuance came in three tranches with tenors between 6 and 21 months, rated between P1 and A- by Meris. This marks the second securitization issuance under Tamkeen’s sixth securitization program.

ADVISORS- Al Ahly Pharos served as financial advisor, lead arranger, and bookrunner, while NBE, Banque du Caire, and Suez Canal Bank acted as underwriters. Matouk Bassiouny & Hennawy provided counsel, while BakerTilly served as auditor.

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