Al-Ahly Pharos Investment Banking successfully concludes advisory on Al Ahly Securitization Company’s first securitization issue of the 2nd program

• The 9th DCM issuance in 9 months

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 3rd securitization issuance worth EGP 707 million secured by a portfolio of EGP 787 million assigned by Al Ahly Tamkeen Microfinance, whereby Al Ahly Pharos, National Bank of Egypt, and Arab African International Bank act as the transaction’s underwriters. Arab African International bank acted as the custodian and the placement agent, Dreny & Partners acted as the legal advisor, and KPMG as the auditor of the transaction, while MERIS "Middle East for Credit Rating and Investors Service", acted as the credit rating for the issue.

Since the beginning of 2023 Al-Ahly Pharos Investment Banking succeeded to manage 9 DCM transactions totaling EGP 24.4bn and Al Ahly Securitization Company issued 3 securitization issuances totaling EGP 2.3bn.

The bond was fully covered through the subscription of National Bank of Egypt, Arab African International Bank, Attijariwafa bank Egypt, and Bank ABC. The bond is comprised of three tranches rated by Middle East Rating Services (MERIS) as P1, P1 and A respectively. The first tranche is worth EGP 406 million with a tenor of 6 months, the second is worth EGP 246 million with a tenor of 12 months while the third is worth EGP 55 million with a tenor of 17 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 is subsidiary of Al Ahly Financial Services, which represents the integrated Investment Bank owned by the National Bank of Egypt Group.

Al Ahly Financial Services 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, securities brokerage and research, asset management, and Debt capital markets such as Securitization and Sukuk.