Al Ahly Pharos Successfully Concludes Advisory on Al Tawfeek Securitization Company’s 1st Securitization

Al-Ahly Pharos investment banking, the Investment banking arm of the National Bank of Egypt, and CI Capital announced today that they acted as the financial advisors, transaction lead arrangers, and book-runners, for Al Tawfeek Securitization Company’s 1st Securitization Issuance of the 1st Program valued at EGP 1.849 billion secured by a portfolio worth EGP 2.835 billion assigned by AT Lease S.A.E.

Also, this transaction was carried out in cooperation with National Bank of Egypt, Banque Misr, Banque du Caire, and Commercial International Bank Egypt who acted as the transaction’s underwriters. While National Bank of Egypt acted as the placement agent and Banque Misr acted as the custodian, While Alieldean Weshahi & Partners acted as the legal advisor, UHY acted as the auditors and MERIS “Middle East for Credit Rating and Investors Service”, acted as the credit rating agency for the issue.

The bond is comprised of 3 tranches rated by Middle East Rating Services (MERIS) as AA+, AA, and A respectively. The first tranche is worth EGP 748 million with a tenor of 25 months, the second is worth EGP 556 million with a tenor of 37 months, while the third is worth EGP 545 million with a tenor of 52 months.

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