CI Capital acted as financial adviser, issuance manager, and lead arranger in the issuance.
Cairo, September 26, 2023:
CI Capital (CICH.CA), the leading diversified financial services group, announced today the successful conclusion of Al-Ahly Securitization Company’s EGP 789mn securitized bond issuance, the originator of Rawasi for Urban Development.
The issuance comes in 3 tranches: The first valued at EGP 101mn, with a tenor of 12 months, received a P1 rating from Middle East Ratings and Investor Services (MERIS). The second tranche, valued at EGP 305mn with a tenor of 36 months, received an AA rating. The third tranche, valued at EGP 383 with a tenor of 59 months, received a rating of A.
“Since the beginning of this year, CI Capital successfully concluded 12 transactions across ECM, DCM, and M&A spaces, with an aggregated value exceeding EGP 33bn. The investment banking team continues to build on the company’s stellar track record, reinforcing CI Capital’s leading position in the Egyptian market. CI Capital’s diversified portfolio of advisory services enables the company to navigate market trends, fulfill clients’ needs, and create compelling investment solutions, which in turn adds depth to the Egyptian market,” Stated Amr Helal, CEO of the Investment Bank (Sell-Side) at CI Capital.
“We are happy to announce the successful conclusion of our first issuance on behalf of a real estate company, owned by financial institutions and managed by one of the biggest Egyptian real estate developers, which complements the company’s path in providing innovative financing tools compatible with different business activities. The Financial Regulatory Authority played a vital role in promoting debt issuances as an effective financing tool to generate the necessary liquidity for issuers to expand, grow their market shares, and effectively have a positive impact on the Egyptian economy through promoting local investments, creating new job opportunities, and enhancing the overall activity within several important sectors,” Stated Mohamed Abbas, Head of DCM at CI Capital.
CI Capital acted as financial adviser, issuance manager, and lead arranger in the issuance, while Dreny and Partners acted as the legal advisor and RSM Egypt acted as the issue’s financial auditor.
