Al Ahly Pharos Investment Banking Successfully Concludes Advisory on Al Ahly Securitization Company’s First Securitization Issuance of the 4^th program Worth EGP 617.5 million backed by the portfolio assigned from United Finance.

Al-Ahly Pharos investment banking, one of the subsidiaries of Al-Ahly Financial Services Group, which represents the integrated investment arm of the National Bank of Egypt, announced today that they acted as a financial advisor, transaction lead manager and arranger have successfully closed Al Ahly Securitization Company’s 1^st Securitization Issuance of the 4^th program worth EGP 617.5 million secured by a portfolio of leasing contracts worth EGP 993 million assigned by United Finance, whereby Al Ahly Pharos, National Bank of Egypt, Banque Du Caire and Arab African International Bank acted as the transaction’s underwriters. Arab African International bank acted as the custodian and Banque Du Caire as the placement agent, Dreny & Partners acted as the legal advisor, and Baker Tilly Egypt as the auditor of the transaction, while MERIS “Middle East for Credit Rating and Investors Service”, acted as the credit rating for the issue.

Maher AbouStiet Vice Chairman and Managing Director of United Finance expressed his happiness with the success of the first issuance for United Finance which in return amplifies the growth and fund diversity strategy of the company; additionally, he uttered his appreciation for all the transaction parties for their exerted efforts to ensure the Issuances’ success.    

Ahmed Heider CEO & Managing Director of Al Ahly Pharos Investment Banking Group has expressed his contentment about the closure and issuance of the transaction and articulated his appreciation to all parties involved in the issuance with tremendous gratitude for the FRA for their continuous efforts and support throughout the transaction process and expressed his pride for the DCM team for their massive efforts through an exceptional period that exceeded expectations.

In the same regard, Amir Sherif Managing Director and Head of the DCM Division at Al Ahly Pharos has expressed his pleasure with the fruitful cooperation with United Finance and its management team, mentioning that the issuance is the 4^th for Al Ahly Securitization Company and it’s the 18^th issuance that Al Ahly Pharos managed to successful conclude in less than 2 years with the expectation to close 5 more transactions at least till the end of this year.

The bond is comprised of three tranches rated by Middle East Rating Services (MERIS) as AA+, AA and A respectively. The first tranche is worth EGP 59 million with a tenor of 13 months, the second is worth EGP 269 million with a tenor of 37 months while the third is worth EGP 289.5 million with a tenor of 60 months.

 About Al-Ahly Pharos Investment Banking S.A.E.

 Al Ahly Pharos Investment Banking is a leading investment bank operating in both Debt Capital Markets, Equity Capital Markets, as well as mergers and acquisitions sector in Egypt, providing clients with fully integrated financial services capitalizing on Al Ahly Financial Services group.

Al Ahly Pharos Investment Financial Services is a subsidiary of Al Ahly Financial Services, and it is the investment bank of the National Bank of Egypt Group, offering a fully integrated financial services, with a leading market position in investment banking, brokerage and research, asset management, and Debt capital markets. 

About United Finance 

United Finance is one of the leading companies in the Egyptian market and is the only non-bank financial institution (NBFI) licensed to practice four different Business Lines: Financial leasing, Operating leasing, Factoring, and Mortgage Finance.

The company aims to provide comprehensive financial solutions by combining its different licensed products with the expertise of its seasoned team to facilitate the expansion processes of its customers/partners and enable them to penetrate new markets, improve their products/services, and finally support them in the delicate stages of their business so that the risks are transformed into accurately calculated opportunities that produce capital accumulation, which in turn contributes to pushing the business forward again