Cairo – Mubasher: CI Capital Holding for Financial Investments has completed nearly EGP 15 billion securitised 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, according to a press release.
The offering covers four tranches, with the first issue valued at EGP 1.70 billion, holding a tenor of 12 months. It was granted a Prime 1 rating from Middle East Ratings and Investor Services (MERIS).
The second tranche, which received an AA rating, stood at EGP 6.06 billion and will mature in 36 months.
Meanwhile, the third tranche amounted to EGP 5.82 billion, with a maturity period of 60 months. It received a rating of AA-.
With a rating of A-, the fourth auction hit EGP 1.41 billion, carrying a tenor of 74 months.
Amr Helal, CEO of the Investment Bank at CI Capital, “Since the beginning of 2023, CI Capital has completed 7 transactions across[enterprise content management] ECM, DCM, and [mergers and acquisitions] M&A, with an aggregated value reaching around EGP 27 billion.”
“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,” Helal continued.
Mohamed Abbas, Head of DCM at CI Capital, noted: “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,” Abbas stated.
He concluded: “Issuances have become a favored solution that provides these entities with liquidity that fuels their investment targets, growth plans, and market expansion.”
In the first quarter (Q1) of 2023, CI Capital witnessed higher consolidated net profits after tax at EGP 329.74 million from EGP 171.72 million in Q1-22, including minority interest.
