CI Capital and Arab African International Leasing Successfully Conclude Securitized Bond Issuance with a total value of EGP 804 Mn
CI Capital (CICH.CA), the leading diversified financial services group, and Arab African International Leasing announced today the successful conclusion of a securitized bond issuance worth a total of EGP 804 million for Capital for Securitization, in which Arab African International Leasing Company (AAIL) is the originator and assignor of the portfolio.
The issuance of Arab African International Leasing Company (AAIL) comes in 3 tranches: The first tranche, valued at EGP 423 Mn with a tenor of 25 months, received AA+ rating from Middle East Ratings and Investor Services (MERIS). The second tranche, valued at EGP 299 Mn with a tenor of 37 months, was rated AA, while the third tranche, valued at EGP 82 million with a 44-month tenor, received a rating of A.
Amr Helal, CEO of the Investment Bank (Sell-Side) at CI Capital, emphasized that the successful completion of the securitized bond issuance for Arab African International Leasing Company (AAIL), marks another milestone in CI Capital’s efforts to expand access to diversified financing solutions and to reach new client segments. This achievement underscores CI Capital’s ability to execute consecutive transactions successfully, further strengthening its leadership in the debt capital markets and reaffirming the confidence of corporates in partnering with CI Capital. Additionally, Helal commended the exceptional efforts of CI Capital’s Debt Capital Markets team and all parties involved in the success of the issuance.
Mohamed Abbas, Head of the Debt Capital Markets at CI Capital, stated that the successful completion of the issuance for Arab African International Leasing Company (AAIL), marks the first collaboration between CI Capital and AAIL, as well as AAIL’s first securitization issuance. Abbas emphasized that this issuance reflects the continued confidence of leading leasing companies in utilizing debt capital market instruments as a key financing tool. He further highlighted the strong investor appetite for the issuance, with coverage reaching 205%, which reflects CI Capital’s ability to access a wide base of investors through its leading position in the market, in addition to the solid performance of AAIL’s portfolios.
Mowafak Gamea, CEO and Managing Director of Arab African International Leasing Company (AAIL), commented that the issuance represents an important strategic move in the company’s plan to diversify its funding sources and support its expansion plans in the leasing market. He added it also marks the company’s first securitization and its first collaboration with CI Capital. The issuance was fully covered by five of the largest banks, underscoring the strong confidence of both banks and investors alike in AAIL’s strength and outstanding performance.
CI Capital acted as the Sole Financial Advisor, Issuance Manager, Bookrunner and Lead Arranger, while Baker Tilly as the issuance’s auditor, and Barakat, Maher & Partners in association with Clyde & Co as the legal advisor.
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