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Sarwa's unit closes EGP 1.6M issuance of securitization bonds

Sarwa's unit closes EGP 1.6M issuance of securitization bonds

ArabFinance: Sarwa Securitization, Sarwa Capital Holding for Financial Investments' subsidiary, has closed the latest issue of EGP 1.6 billion in securitization bonds, according to a statement filed to the Egyptian Exchange.

The issuance is backed by the portfolios of Sarwa subsidiary Contact Credit and its affiliate companies.

The bonds consist of 3 tranches with tenors of 13, 37 and 60 months, and received high ratings of AA+, AA and A respectively by Middle East Ratings and Investors Service (MERIS).

This issue brings Sarwa’s total debt issuances for this year to EGP 6 billion, including an earlier securitization issue of EGP 1.8 billion and a Sukuk issue of EGP 2.5 billion.

Parent company Sarwa Capital is reportedly offering Amer Group Holding’s sukuk issuance next year.

Sarwa Capital offers financial solutions such as auto credit, insurance, and consumer finance.

The group also helps and structures debt transactions for companies that need to access debt capital markets to fund growth, manage risk, improve financial standing, and raise liquidity.

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