Al-Ahly Pharos book-runs EGP 3.52B Capital Securitization issuance backed by Tasaheel receivables
Updated 1/4/2026 10:51:00 AM
Arab Finance: Al-Ahly Pharos Investment Banking, the investment banking arm of the National Bank of Egypt (NBE), acted as financial advisor, transaction lead arranger, underwriter, and book-runner for Capital Securitization Company’s fourth securitization issuance worth EGP 3.52 billion under its 12th program, as per an emailed press release.
The issuance is secured by a receivables portfolio valued at EGP 4.27 billion assigned by Tasaheel for Financing S.A.E.
The transaction was carried out in cooperation with Al Ahly Pharos, NBE, and Suez Canal Bank, which acted as underwriters, alongside subscribing banks including Bank NXT, Housing and Development Bank, and Bank ABC.
Within the transaction structure, NBE served as the placement agent, while Suez Canal Bank acted as custodian.
Legal advisory services were provided by Matouk Bassiouny & Hennawy, with audit services carried out by Baker Tilly Egypt.
The bond consists of two tranches: the first tranche valued at EGP 1.845 billion, with a tenor of 12 months, and the second tranche amounts to EGP 1.675 billion, with a tenor of 24 months.
The tranches were rated P1 and A-, respectively, by Middle East Rating Services (MERIS).
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