CI Capital Announces Completion Of Securitized Bond Issuance For A Total Value Of 1.04 Billion Pounds For Aman Financial Services

CI capital acted as Sole Financial Advisor, Issuance Manager, Bookrunner and Lead Arranger in the issuance.

Cairo, June 10, 2024:

CI Capital (CICH.CA), the leading diversified financial services group, announced today the successful conclusion of the fourth securitized bond issuance worth EGP 1.04bn for Aman Financial Services as part of a 3-year program with a total value of EGP 5bn.

The issuance comes in 4 tranches: the first valued at EGP 493mn, with a tenor of 6 months, received a Prime 1 rating from Middle East Ratings and Investor Services (MERIS). The second tranche, valued at EGP 246mn, with a tenor of 9 months, also received a Prime 1 rating. The third tranche, valued at EGP 165mn, with a tenor of 13 months, received a rating of A. The fourth tranche valued at EGP 136mn, with a tenor of 24 months, also received a rating of A.

“ to complete the release with   Aman Group, which is one of the most important success partners of CI capital, especially as it is the fourth edition of the company with Aman Group after completing 3 securitized bond issuances during 2023. The company’s team continues its success by completing several important deals since the first quarter of 2024”, Commented Amr Helal, Chief Executive Officer (Sell-Side) of the Investment Bank at CI Capital

The head of the debt markets sector, Mohamed Abbas, praised the pivotal role played by the General Authority for Financial Supervision to overcome all obstacles and provide continuous support to all companies to promote the Egyptian debt market, as the General Authority for Financial Supervision facilitated the transfer of financial rights of Aman Financial Services. This is in light of the existence of a portfolio of documents and guarantees common between the aforementioned issue and the third version of the first program, which was issued last December, where this mechanism applied in the issuance is the first of its kind in the Egyptian market.

Mr. Hossam Hussein, Chairman of Aman Securities and Head of  Financial sector of Raya holding Group,   expressed his pride in partnering with CI Capital to complete the securitized bond issuances with a total value of EGP 1.04 billion, which is the fourth issuance of the company, as this and other deals over the past three years have demonstrated the strong financial position of the company and the diversity of the financial instruments we use.”

Mr. Hazem Maghazi,  Chairman of Aman Consumer Finance Company and Managing Director of Aman holding, expressed his pride in the completion of the fourth edition within the first (multi-issue) program. He explained that this is part of the achievement of the company’s strategic plan, to become a leading integrated company in providing a variety of comprehensive financial services.

It is noteworthy that CI capital acted as the sole financial advisor, salary, general coordinator, issuance manager and IPO promoter, Zaki Hashem & Partners acted as legal advisor and the United Consultancy of Audit, Tax, Consulting and Financial Services acted as issue’s financial auditor. In 2023, CI capital completed 3 securitized bond issuances under Aman Financial Services’ program with a total value of EGP 2.41 billion.