{"id":549555,"date":"2022-09-21T04:00:04","date_gmt":"2022-09-21T04:00:04","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/21\/contact-financial-closes-egp-2-bn-sukuk-issuance\/"},"modified":"2022-09-21T04:00:04","modified_gmt":"2022-09-21T04:00:04","slug":"contact-financial-closes-egp-2-bn-sukuk-issuance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/21\/contact-financial-closes-egp-2-bn-sukuk-issuance\/","title":{"rendered":"Contact Financial closes EGP 2 bn sukuk issuance"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Contact Financial Holding has closed an EGP 2 bn sukuk issuance<\/strong>, after getting the greenlight from the Financial Regulatory Authority (FRA) yesterday, Contact Financial Holding CEO Said Zater told Amwal El Ghad. The sharia-compliant mudaraba sukuk has a seven-year tenor and the proceeds will be used to finance car purchases for clients of its subsidiary, Contact Credit, the regulator said in <a href=\"https:\/\/ent.news\/2022\/9\/FRA.pdf\">a statement (pdf)<\/a>.<\/p>\n<p><strong>Who\u2019s buying in: <\/strong>Baraka Bank, and Arab Investment Bank, Zater said.<\/p>\n<p><strong>Advisors: <\/strong>The issuance was co-underwritten by Misr Capital and Al Ahly Pharos. Sarwa Promotion and Underwriting, a subsidiary of Contact, was the lead arranger. Alieldean Weshahi & Partners acted as the legal advisor, and Financial Capital Services \u2014 formerly Baker Tilly Wahid Abdel Ghaffar & Co \u2014 was appointed as an independent financial advisor.<\/p>\n<p><strong>It\u2019s been a quiet year so far for sukuk<\/strong>, which saw only one <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6170918c-d131-411e-a667-a3f24c66a66c\">EGP 3.25 bn sukuk issuance<\/a> from Palm Hills Developments (PHD) in March. This marks Contact Financial\u2019s (formerly Sarwa Capital Holding) third sukuk issuance by our count, after closing the only issuance of the year in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b389205-5282-4d47-b93a-13d8a30d62ff\">2021<\/a> and another in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/638cf2dd-260a-4ffc-b6bd-7dced92a6222\">2020<\/a>.<\/p>\n<p><strong>More coming? <\/strong>Contact Financial\u2019s sukuk arm is preparing for three more issuances before the end of the year with a combined value of around EGP 4 bn, Zater told us when we spoke on the phone yesterday. The company also expects to issue EGP 1-1.5 bn worth of securitized bonds within a month for its consumer finance business.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Contact Financial Holding has closed an EGP 2 bn sukuk issuance, after getting the greenlight from the Financial Regulatory Authority (FRA) yesterday, Contact Financial Holding CEO Said Zater told Amwal El Ghad. The sharia-compliant mudaraba sukuk has a seven-year tenor and the proceeds will be used to finance car purchases for clients of its subsidiary, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":549556,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7274],"tags":[933,7106,88,72,85,280],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-contact-financial","tag-debt","tag-debt-watch","tag-enterpriseam","tag-securitization","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"fa7794f4-ae2b-4c7d-9567-ada4a3097e08","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/300.jpg","photo_position":"above","related_issue":[549544],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Contact Financial closes EGP 2 bn sukuk issuance - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/21\/contact-financial-closes-egp-2-bn-sukuk-issuance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Contact Financial closes EGP 2 bn sukuk issuance\" \/>\n<meta property=\"og:description\" content=\"Contact Financial Holding has closed an EGP 2 bn sukuk issuance, after getting the greenlight from the Financial Regulatory Authority (FRA) yesterday, Contact Financial Holding CEO Said Zater told Amwal El Ghad. The sharia-compliant mudaraba sukuk has a seven-year tenor and the proceeds will be used to finance car purchases for clients of its subsidiary, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/21\/contact-financial-closes-egp-2-bn-sukuk-issuance\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-21T04:00:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/300.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/21\/contact-financial-closes-egp-2-bn-sukuk-issuance\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/21\/contact-financial-closes-egp-2-bn-sukuk-issuance\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Contact Financial closes EGP 2 bn sukuk issuance\",\"datePublished\":\"2022-09-21T04:00:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/21\/contact-financial-closes-egp-2-bn-sukuk-issuance\/\"},\"wordCount\":242,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/21\/contact-financial-closes-egp-2-bn-sukuk-issuance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/300.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Contact Financial\",\"debt\",\"debt watch\",\"EnterpriseAM\",\"securitization\",\"sukuk\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/21\/contact-financial-closes-egp-2-bn-sukuk-issuance\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/21\/contact-financial-closes-egp-2-bn-sukuk-issuance\/\",\"name\":\"Contact Financial closes EGP 2 bn sukuk issuance - 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PLUS: GB Capital + Golden Coast sukuk news, new gold fund, Banknbox + SWFT, PayTabs","author":"enterpriseam admin","date":"27 February 2024","format":false,"excerpt":"Aman Holding will start providing installment services in Saudi Arabia in the second half of the year","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2621.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":664819,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/07\/hassan-allam-construction-lines-up-egp-2-8-bn-in-maiden-musharaka-sukuk-sale\/","url_meta":{"origin":549555,"position":3},"title":"Hassan Allam Construction lines up EGP 2.8 bn in maiden musharaka sukuk sale","author":"enterpriseam admin","date":"7 May 2025","format":false,"excerpt":"Proceeds will finance Hassan Allam Construction\u2019s Bab Misr project","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/887.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":661267,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/25\/tasaheel-completes-egp-7-bn-social-sukuk-issuance-africas-largest\/","url_meta":{"origin":549555,"position":4},"title":"Tasaheel completes EGP 7 bn social sukuk issuance, Africa\u2019s largest","author":"enterpriseam admin","date":"25 February 2025","format":false,"excerpt":"PLUS- Attijariwafa Bank Egypt secured USD 20 mn from the IFC","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2366.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563872,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/27\/contact-makes-first-sukuk-sale-this-year\/","url_meta":{"origin":549555,"position":5},"title":"Contact makes first sukuk sale this year","author":"enterpriseam admin","date":"27 July 2021","format":false,"excerpt":"Contact closes its second EGP 2.5 bn sukuk offering: Contact Financial Holding, formerly Sarwa Capital Holding, has closed its second sukuk issuance worth EGP 2.5 bn, the company said in a statement (pdf). 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