CI Capital Completes EGP 1.29bn Securitized Bond Issuance for Aman Consumer Finance

CI Capital (CICH.CA), a leading diversified financial services group, has successfully concluded the fifth securitized bond issuance of EGP 1.29bn on behalf of Aman Securitization. Aman Consumer Finance acted as the originator as part of a 3-year program worth a total of EGP 5bn.

Breakdown of the Issuance

The issuance was divided into six tranches:

Tranche 1: EGP 231.2mn, with a 6-month tenor, rated Prime 1.
Tranche 2: EGP 266mn, with a 12-month tenor, rated Prime 1.
Tranche 3: EGP 313mn, with a 24-month tenor, rated AA.
Tranche 4: EGP 202mn, with a 36-month tenor, rated AA-.
Tranche 5: EGP 175mn, with a 48-month tenor, rated A+.
Tranche 6: EGP 110mn, with a 60-month tenor, rated A.

Executive Remarks

Amr Helal, Chief Executive Officer (Sell-Side) of the Investment Bank at CI Capital, expressed his satisfaction with the fifth successful issuance for Aman, reflecting CI Capital’s ongoing success in providing innovative investment solutions. “This issuance is a testament to CI Capital’s leadership in Egypt’s financial advisory services. Since 2023, we have successfully completed five securitized bond issuances for Aman, and we look forward to expanding our strategic partnership,” said Helal.

A Strategic Milestone for Aman

Hossam Hussein, Chairman of Aman Securitization and CFO of Raya Holding, commented on the significance of this issuance: “The eighth securitized bond issuance worth EGP 1.29bn marks a pivotal moment for Raya Holding and Aman. It reflects our strategy to diversify financing instruments and strengthen our financial standing.” He also emphasized the fruitful collaboration with key market players in executing the transaction.

Hazem Maghazi, CEO of Aman Holding, highlighted the company’s commitment to offering comprehensive financial solutions: “This issuance further solidifies our ability to sustain growth and deliver innovative financial services to meet the ever-changing needs of the Egyptian market.”

High Demand from Investors

Mohamed Abbas, Head of Debt Capital Markets at CI Capital, expressed his pride in completing the fifth issuance, noting strong investor interest, with the issuance being covered by 14 major institutions at a coverage rate exceeding 3.4x. Abbas also highlighted the enduring partnership with Aman, with a cumulative issuance value surpassing EGP 4.7bn, despite the challenges in the financial markets.

Key Players in the Transaction

CI Capital acted as the sole financial advisor, issuance manager, bookrunner, and lead arranger. Zaki Hashem & Partners served as the legal advisor, while United for Auditing, Tax, Advisory & Financial Services (UHY) acted as the financial auditor.

About CI Capital

CI Capital Holding for Financial Investments (CICH EY, CICH.CA) is Egypt’s leading diversified financial services group, offering leasing, microfinance, mortgage finance, consumer finance, and investment banking products. Headquartered in Cairo, with offices in New York and Dubai, CI Capital serves a diverse client base, including global and regional institutions, SMEs, and high-net-worth individuals.

The company provides capital raising, M&A advisory, asset management, securities brokerage, and microfinance through its subsidiaries Corplease and Reefy. With over 4,000 employees and a robust local market understanding, CI Capital continues to expand its services, backed by Banque Misr, its majority shareholder.

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