A.T. Lease completes EGP 1.849B issuance in inaugural securitization program

Updated 12/9/2025 9:54:00 AM

Arab Finance: Al Tawfeek Leasing Company (A.T. Lease) announced the completion of the first issuance of its first securitization program, with a total value of EGP 1.849 billion, as per a disclosure.

Proceeds will be directed toward strengthening its financial position, improving profitability and return on equity, and supporting future expansion through selective investments that reinforce its presence in leasing, factoring, and real estate finance.

The issuance was arranged and promoted by Al Ahly Pharos, the investment arm of the National Bank of Egypt (NBE), and CI Capital.

It is backed by a portfolio of future financial rights arising from financial leasing contracts transferred from A.T. Lease to its 99.9%-owned subsidiary Al Tawfeek Securitization Company.

Commercial International Bank (CIB), NBE, Banque du Caire, and Banque Misr acted as underwriters.

NBE served as subscription recipient, Banque Misr acted as custodian, ALC-Alieldean Weshahi & Partners served as legal advisor, and United Audit and Tax Office (United - UHY) acted as auditor. MERIS assigned the credit rating.

Participating institutions in the securitization issuance included CIB, NBE, Banque du Caire, and Attijariwafa Bank.

The issuance consists of three tranches with variable returns linked to the overnight lending rate set by the Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE). Pricing will be reviewed after each MPC meeting.

The first tranche totals EGP 748 million, matures in 25 months, amortizes monthly, and holds an AA+ rating.

The second tranche is valued at EGP 556 million, has a 37-month term and an AA rating, and amortizes monthly after the first tranche or earlier, depending on collections.

The third tranche amounts to EGP 545 million, carries a 48-month term and an A rating, and amortizes monthly after the second tranche or earlier based on actual proceeds.