Al-Ahly Pharos investment banking, the investment arm of the National Bank of Egypt, acted as the lead manager, financial advisor, arranger, and promoter for the first issuance under the sixth program of securitization bonds for Ahli Securitization Company, backed by the portfolio from Al Ahli Capital for Microfinance - "Tamkeen", with a total issuance value of EGP 881.5 million.

This issuance marks the third for Ahli Tamkeen, as part of the company’s strategy to enhance its funding sources and diversify its financial instruments, in support of microfinance activities and expanding the reach of its financial services to more beneficiaries.

Also, Al Ahly Pharos, the National Bank of Egypt, Arab African International Bank, Suez Canal Bank, and Banque du Caire acted as underwriters for this issuance, which is backed by a portfolio of financial rights related to microfinance contracts, with a total value of approximately EGP 1.094 billion, transferred from Ahli Capital for Microfinance - 'Tamkeen.'

While Arab African International Bank acted as the placement agent and Suez Canal Bank acted as the custodian, while Matouk Bassiouny & Hennawy acted as the legal advisor, while Baker Tilly as the auditor of the transaction, while MERIS "Middle East for Credit Rating and Investors Service", acted as the credit rating agency for the issue.

The bond is comprised of 5 tranches rated by Middle East Rating Services (MERIS) as P1, P1, P1, A- and A- respectively. The first tranche is worth EGP 210 million with a tenor of 6 month, the second is worth EGP 155 million with a tenor of 9 months, the third is worth EGP 135 million with a tenor of 12 months, the fourth is worth EGP 307 million with a tenor of 18 months and the fifth worth EGP 74.5 million with a tenor of 24 months.

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

Al-Ahly Pharos Investment banking, which is part of the National Bank of Egypt Group, is one of the leading investment banks in the Egyptian capital market operating in both Debt Capital Markets, Equity Capital Markets, as well as mergers and acquisitions sector in Egypt, providing integrated financial services. It relies on the strength of the National Bank of Egypt Group and holds a leadership position in the investment banking market, securities trading, research, asset management, and debt roles such as securitization and sukuk.