We are pleased to announce the successful closure of Enmaa Finance’s first securitization transaction for their financial leasing portfolio amounting to EGP 759 million, which comes as part of a wider 3-year multi-issuance program with a total value of EGP 2 billion.
The issuance was backed by a receivables portfolio originated by Enmaa Finance Co., and was comprised of three tranches: Tranche A amounting to EGP 105,000,000 rated AA+, Tranche B valued at EGP 378,000,000 rated AA, Tranche C valued at EGP 276,000,000 rated A from the Middle East Ratings and Investors Service (MERIS).
It is worth mentioning that Al Ahly Pharos acted as the financial advisor, as well as the underwriter of the transaction along with National Bank of Egypt (NBE), Arab African International Bank (AAIB) and Banque du Caire, in addition, Arab African International Bank acted as custodian, Banque du Caire as bookrunner, and Bakertilly as the auditor of the transaction.
Partner, Head of Capital Markets and Financial Services; Imane Raouf commented: “We are delighted to have played a role in the completion of such a fruitful transaction which will have a beneficial effect on the company’s upcoming projects.” Raouf added: “I would like to take this opportunity and thank our dedicated team for their invaluable efforts in achieving this milestone and looking forward to many yet to come.”
This transaction was led by: Partner, Head of Capital Markets and Financial Services Department Imane Raouf
Capital Markets team: Associate Aya Khaled
From the Capital Markets Procedures team: Managing Associate Nagy Ebeid and Junior Associate Ahmed Ayman.
For more information contact us: info@dreny.partners
