Misr Capital: Issuance of securitization bonds amounting to 306 million pounds for Rawaj Consumer Finance

01:57 PM

Thursday 30 December 2021

I wrote – Manal Al-Masry:

Today, Thursday, Misr Capital Company, the investment banking services arm of Banque Misr, announced the completion of the fourth issuance deal worth 305.5 million pounds in favor of Rawaj Consumer Finance, in return for the financial rights transferred to the Securitization Company.

According to a statement by Misr Capital today, the issuance comes in 4 tranches, the first with a value of 36 million pounds with a maturity period of 8 months, the second with a value of 35.3 million pounds with a maturity period of 13 months, the third with a value of 156 million pounds with a maturity period of 37 months, and the fourth with a value of 78.2 million pounds with a maturity period 60 months, after obtaining the approval of the Financial Supervisory Authority.

This issuance comes within days after announcing the successful completion of the issuance of securitization bonds in favor of Global Corp for Financial Services, and it is the sixth issuance implemented by Misr Capital during the current year.

Khalil Al-Bawab, CEO and Managing Director of Misr Capital, said that the success of the issuance comes as the best conclusion to a year that witnessed many achievements for the company at all levels, whether it was launching multiple investment funds, launching two direct investment platforms in both health care and education services, or starting a business. And develop the business of Misr Capital Bond Brokerage Company.

He added that the series of outstanding deals that were unique to the company during the current year is due to the efforts and success of the work team, especially the work to complete two bond issues in a short period of time.

Misr Capital acted as the sole financial advisor, issue manager, arranger, general coordinator, and underwriting promoter, in addition to Misr Capital, Banque Misr, National Bank and Arab African Bank as the underwriters, in addition to El Derini & Co. as the legal advisor for the offering, and Ernst & Young’s office as the issue’s auditor.

Reference-www.masrawy.com

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