A consortium, comprised of the National Bank of Egypt (NBE) and Commercial International Bank-Egypt (CIB), has closed a securitised bond issuance worth EGP 585 million for Aman Financial Services, a subsidiary of Raya Holding for Financial Investments.
The two banks acted as lead managers and promoters and each contributed EGP 292.5 million to the issuance, the Corporate and Syndication Group Head at NBE, Sherif Riad, said in a statement on Thursday.
The bonds are issued in five tranches: a six-month tranche worth EGP 175.5 million, a nine-month tranche worth EGP 146.3 million, a 12-month tranche worth EGP 81.9 million, a 36-month tranche worth EGP 146.3 million, and a 60-month tranche worth EGP 35 million.
During fiscal year (FY) 2020/2021, NBE contributed a total of EGP 3.2 billion to eight non-banking debt instruments for several companies, Riad added.
