Cairo – Mubasher: Aman Holding, the fintech subsidiary of Raya Holding For Financial Investments, has closed the fourth issue of its first securitisation bond programme, amounting to EGP 1.04 billion.
This issue is backed by a consumer financing portfolio from its subsidiary, Aman Consumer Finance, with a total value exceeding EGP 1.23 billion, according to a statement.
The securitisation bonds are divided into four tranches with varying terms ranging from six to 24 months. These tranches received credit ratings from ‘P1’ to ‘A’ and were covered by both banking and non-banking financial institutions.
Hazem Maghazi, CEO of Business and Commercial Affairs at Aman Holding, stated his company aim to rely more on financial market tools of various types in all sectors in which the company operates.
The fifth issue is scheduled to be completed during the third quarter (Q3) of this year, reflecting the rapid growth of the company’s portfolio and continued investor confidence.
CI Capital Holding for Financial Investments served as the financial advisor, arranger, general coordinator, issue manager, and subscription promoter.
Moreover, the National Bank of Egypt (NBE) and the African International Bank (AAIB) guaranteed the coverage. The NBE also acted as the custodian and the bank receiving the subscription, while Zaki Hashem’s office served as the legal advisor for the securitisation process.
