CI Capital Successfully Concludes c.EGP 15bn Securitized Bond Issuance for New Urban Communities Authority “NUCA”

July 18, 2023

CI Capital (CICH.CA), the leading diversified financial services group, announced today the successful conclusion of a c.EGP 15bn securitized bond issuance on behalf of Al Taamir Securitization, the originator of The New Urban Communities Authority (NUCA). CI Capital acted as the financial adviser, the issuance manager, and the lead arranger in the issuance.

The issuance comes in 4 tranches: the first valued at EGP 1.7bn, with a tenor of 12 months, received a Prime 1 rating from Middle East Ratings and Investor Services (MERIS). The second tranche, valued at EGP 6.06bn, with a tenor of 36 months, received an AA rating. The third tranche, valued at EGP 5.82bn, with a tenor of 60 months, received a rating of AA-. The fourth tranche valued at EGP 1.41bn, with a tenor of 74 months, received a rating of A-.

“This issuance, the second largest ever in the Egyptian debt capital market, proves yet again CI Capital’s unique ability to conclude high-profile transactions. Since the beginning of 2023, CI Capital has completed 7 transactions across ECM, DCM, and M&A, with an aggregated value reaching c.EGP 27bn,” Stated Amr Helal, Chief Executive Officer (Sell-Side) of the Investment Bank at CI Capital.

“From advisory on debt issuances, fixed income brokerage, as well as management of a comprehensive suite of money market and fixed income funds, CI Capital is uniquely positioned to offer tailor-made investment solutions to all types of investors, whether banks, financial institutions, or individual investors,” Added Helal.

“The Egyptian debt capital market continues to witness growth over the past years, with an increased number of issuers from both public and private sectors. The recent growth in the market, coupled with increased awareness among both issuers and investors, effectively positioned debt issuances as an effective tool and a compelling alternative to conventional financing solutions that many entities whether governmental or from the private sector have relied on for years. Issuances have become a favored solution that provides these entities with liquidity that fuels their investment targets, growth plans, and market expansion,” Commented Mohamed Abbas, Head of DCM at CI Capital.

CI Capital acted as financial adviser, issuance manager, and lead arranger in the issuance.