Al-Ahly Pharos Investment Banking, the investment banking arm of the National Bank of Egypt, announced that it acted as financial advisor, transaction lead arranger, and book-runner for Al Ahly Securitization Company’s 2nd securitization issuance of its 6th program, valued at EGP 777 million, secured by a portfolio worth EGP 920 million assigned by Al Ahly Tamkeen for Microfinance Services S.A.E.
The transaction was executed in cooperation with National Bank of Egypt, Banque du Caire, and Suez Canal Bank, who acted as the transaction underwriters. National Bank of Egypt also served as the placement agent, while Suez Canal Bank acted as the custodian. Matouk Bassiouny & Hennawy served as legal advisor, BakerTilly (Mohamed Hilal & Wahid Abdelghaffar) acted as transaction auditor, and MERIS – Middle East for Credit Rating and Investors Service provided the credit rating for the issuance.
The bond is structured into three tranches, rated by MERIS as P1, P1, and A- respectively:
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Tranche 1: EGP 252 million, tenor 6 months
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Tranche 2: EGP 292 million, tenor 12 months
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Tranche 3: EGP 233 million, tenor 21 months
This issuance strengthens the role of Al Ahly Securitization Company in enhancing liquidity and financing solutions for microfinance portfolios in Egypt, providing institutional investors with secure, rated investment opportunities and supporting the broader development of the local financial markets.
