Aman Holding Closes Fourth Issuance of First Securitization Program Worth EGP 1.04 Billion
Aman Holding, a leading non-banking financial technology services company, has announced the closure of the fourth issuance of its first securitization program, amounting to EGP 1.04 billion.
This issuance is backed by a consumer finance portfolio transferred from its subsidiary, Aman for Consumer Finance, with a total value exceeding EGP 1.23 billion.
The securitized bonds are divided into four tranches with varying maturities ranging from 6 to 24 months.
These tranches have received credit ratings between P1 and A, and were covered by both banking and non-banking financial institutions, reflecting investor confidence in the quality of the portfolios transferred by the company.
In this regard, Mr. Hazem Magazy, Chief Business and Commercial Affairs Officer at Aman Holding, commented on the issuance, saying, “Aman Holding companies aim to increasingly rely on capital market instruments of various kinds in all sectors in which the company operates.
This comes as part of creating suitable opportunities for investors interested in capital market instruments, relying on the legislation and decisions issued by the Financial Regulatory Authority which contribute effectively to the development of all related sectors.
The fifth issuance is scheduled for completion in the third quarter of this year, reflecting the rapid growth of the company’s portfolio and continued investor confidence.”
Furthermore, Mr. Ali El Moraly, Chief Financial Officer of Aman Holding, added, “We are proud of the collaboration with all parties involved in this issuance and the efforts they have put in, which contributed to the successful closure of the issuance; in line with the company’s strategy.
The continuous diversification of the company’s funding sources has enhanced its ability to achieve its goals, expand its financing services, and increase its market share.”
It is noteworthy that CI Capital acted as the financial advisor, arranger, general coordinator, issuance manager, and subscription promoter for this issuance.
The coverage was guaranteed by both the National Bank of Egypt and the Arab African International Bank.
The National Bank of Egypt also acted as the custodian bank and subscription receiver, while Zaki Hashem & Partners served as the legal advisor for the securitization process.
