December 2023 witnessed a remarkable surge in securitization transactions for investment banks, as Al-Ahly Pharos and CI Capital made substantial contributions to the market. The two banks collectively issued securitization bonds amounting to EGP 19.8 billion, with Al-Ahly Pharos securing EGP 12 billion within the final 12 days of the month.
CI Capital's active involvement in late December 2023 resulted in the issuance of five bonds valued at a total of EGP 7.8 billion. Specifically, Corplease received EGP 3.177 billion through securitized bond issuance, GB Lease obtained EGP 1.645 billion, Aman acquired EGP 1.148 billion, Rawasi secured EGP 1.012 billion, and Bedaya received EGP 843 million.
Al-Ahly Pharos Investment Banking, a subsidiary of Al-Ahly Financial Services Group and the integrated investment arm of the National Bank of Egypt Group, recently provided advisory, arranging, and underwriting services for seven securitization issuances. These issuances, totaling EGP 12 billion, were backed by differentiated portfolios worth EGP 19 billion across various sectors, including leasing, mortgage, microfinance, and consumer finance. All of these transactions were completed within the last 12 days of December 2023.
Data Source: CI Capital and Al-Ahly Pharos LinkedIn Pages
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