Banque Misr, Sarwa Capital arrange EGP 174 mn in securitized bonds

Banque Misr arranged a three-tranche securitized bond issuance worth EGP 174 mn, underwritten by Sarwa Capital, Al Mal reports. Sarwa Capital also served as financial advisor on the transaction. The issuance is backed by securitised mortgage contracts worth EGP 281 mn. We had noted Sarwa Capital was seeking regulatory approval in March for a EGP 1 bn issuance of securitized bonds to be issued within two months.