Al Ahly Pharos investment banking successfully concludes advisory on al ahly securitization company’s first securitization issuance of the 3rd program worth EGP 1.06bln


Al-Ahly Pharos investment banking, one of the subsidiaries of Al-Ahly Financial Services Group, which represents the integrated investment arm of the National Bank of Egypt, announced today that they acted as a financial advisor, transaction lead manager and arranger have successfully closed Al Ahly Securitization Company’s 1st Securitization Issuance of the 3rd. program worth EGP 1.06 billion secured by a portfolio of leasing contracts worth EGP 1.7 billion assigned by Al Ahly Leasing and Factoring company, whereby National Bank of Egypt acted as the Arranger, and Al Ahly Pharos, National Bank of Egypt, Arab African International Bank, Banque Du Caire and Suez Canal Bank acted as the transaction’s underwriters. Arab African International bank acted as the custodian and Banque Du Caire as the placement agent, Dreny & Partners acted as the legal advisor, and Baker Tilly Egypt as the auditor of the transaction, while MERIS “Middle East for Credit Rating and Investors Service”, acted as the credit rating for the issue.

The bond is comprised of three tranches rated by Middle East Rating Services (MERIS) as AA+, AA and A respectively. The first tranche is worth EGP 313 million with a tenor of 25 months, the second is worth EGP 271 million with a tenor of 37 months while the third is worth EGP 476 million with a tenor of 58 months.

Tarek Kandil CEO & Managing Director of Al Ahly Leasing and Factoring Company expressed his happiness with the success of the second issuance for Al Ahly Leasing and Factoring Company which in return amplifies the growth and fund diversity strategy of the company; additionally, he uttered his appreciation for all the transaction parties for their exerted efforts to ensure the Issuances’ success.   

Ahmed Heider CEO & Managing Director of Al Ahly Pharos Investment Banking Group has expressed his contentment about the closure and issuance of the transaction and articulated his appreciation to all parties involved in the issuance with tremendous gratitude for the FRA for their continuous efforts and support throughout the transaction process and expressed his pride for the DCM team for their massive efforts through an exceptional period that exceeded expectations.

In the same regard, Amir Sherif Managing Director and Head of the DCM Division at Al Ahly Pharos has expressed his pleasure with the fruitful cooperation with Al Ahly Leasing and Factoring Company and its management team, mentioning that the issuance is the 5th for Al Ahly Securitization Company and it’s the 19th issuance that Al Ahly Pharos managed to successful conclude in less than 2 years with the expectation to close 4 more transactions at least till the end of this year.


About Al-Ahly Pharos Investment Banking S.A.E.

Al Ahly Pharos Investment Banking is a leading investment bank operating in both Debt Capital Markets, Equity Capital Markets, as well as mergers and acquisitions sector in Egypt, providing clients with fully integrated financial services capitalizing on Al Ahly Financial Services group.

Al Ahly Pharos Investment Financial Services is a subsidiary of Al Ahly Financial Services, and it is the investment bank of the National Bank of Egypt Group, offering a fully integrated financial services, with a leading market position in investment banking, brokerage and research, asset management, and Debt capital markets. 

About Al Ahly Leasing and Factoring

Al Ahly Leasing and Factoring Company “ALC” is a joint stock Company, established by the National Bank of Egypt (NBE) in June 2011 under the Law no. 159 of 1981.

ALC plays an instrumental role in the development of the Leasing sector and the growth of the Factoring business in Egypt through offering a wide range of flexible Leasing and Factoring solutions needed for the management of the liquidity requirements of its client’s business with a tenor corresponding to their cash flow requirements.


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