{"id":326410,"date":"2022-10-25T06:48:48","date_gmt":"2022-10-25T06:48:48","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=326410"},"modified":"2022-10-25T06:48:48","modified_gmt":"2022-10-25T06:48:48","slug":"cib-nbe-close-largest-ever-securitisation-bond-bond-issuance-worth-egp-20bn-for-nuca","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/10\/25\/cib-nbe-close-largest-ever-securitisation-bond-bond-issuance-worth-egp-20bn-for-nuca\/","title":{"rendered":"CIB, NBE close largest ever securitisation bond bond issuance worth EGP 20bn for NUCA"},"content":{"rendered":"

Commercial International Bank \u2013 Egypt (CIB), along with the National bank of Egypt (NBE), announced the successful closure of the biggest securitization bond issuance in the Egyptian market, worth EGP 20bn for the New Urban Communities Authority (NUCA).<\/p>\n

The issuance will be used to finance a number of its underway megaprojects cross-country including the new administrative capital and New Alamein.<\/p>\n

The issuance has a high-quality portfolio with zero default rate and a robust cash payback ability which was reciprocated by a healthy appetite to invest from reputable financial institutions, where the issuance was oversubscribed more than 2.5 times. The issuance comprises five tranches; with amounts of EGP 1bn, EGP 2.9bn, EGP 3.8bn, EGP 6.6bn and EGP 5.7bn, for Tranches (A, B, C, D & E respectively) with tenors of 12months, 36 months, 60 months, 84 months and 104 months.<\/p>\n

CIB acted as the Financial Advisor, and together with NBE as General Arranger, Issuance Manager, Promoter and Co-underwriter. In addition, CIB served as the transaction\u2019s custodian and Subscription Receiving Bank.
\nParticipating regional and local financial institutions included Abu Dhabi Commercial Bank, Qatar National Bank, the Housing and Development Bank, Al Ahli Bank of Kuwait, Arab Investment Bank, Societe Arabe Internationale De Banque, Attijariwafa bank, Faisal Bank and Mid Bank.
\n.
\nDreny Law Office acted as the legal advisor whereas KPMG were the official transaction auditor.<\/p>\n","protected":false},"excerpt":{"rendered":"

Commercial International Bank \u2013 Egypt (CIB), along with the National bank of Egypt (NBE), announced the successful closure of the biggest securitisation bondbond issuance in the Egyptian market, worth EGP 20bn for the New Urban Communities Authority (NUCA).<\/p>\n","protected":false},"author":2,"featured_media":323314,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[310,91],"class_list":["post-326410","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main","tag-commercial-international-bank-cib","tag-securitisation-bond"],"yoast_head":"\nCIB, NBE close largest ever securitisation bond bond issuance worth EGP 20bn for NUCA - egy-africa<\/title>\n<meta name=\"description\" content=\"Commercial International Bank \u2013 Egypt (CIB), along with the National bank of Egypt (NBE), announced the successful closure of the biggest securitization bond issuance in the Egyptian market, worth EGP 20bn for the New Urban Communities Authority (NUCA).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2022\/10\/25\/cib-nbe-close-largest-ever-securitisation-bond-bond-issuance-worth-egp-20bn-for-nuca\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIB, NBE close largest ever securitisation bond bond issuance worth EGP 20bn for NUCA - 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