ArabFinance: Rawaj Finance, Arabia Investments Holding’s (AIH) subsidiary, concluded issuing a part of its securitization bonds, amounting to EGP 308 million, according to the AIH’s statement filed to the Egyptian Exchange.
The total of Rawaj’s accumulated credit facilities amounts to EGP 1.2 billion.
The bonds consist of 3 tranches with tenors of 13, 36, and 60 months, and received high ratings of AA+, AA, and A respectively by Middle East Ratings and Investors Service (MERIS).
Commercial International Bank was the financial advisor and subscription arranger.
AIH has been studying the company split into two companies, one of them will be engaging in the non-banking financial sector, Chairman of AIH Jamal Othman said to Alborsanews website.
AIH, formerly Arabia Investments Development Financial Investments Holding Company, is an Egypt-based company that invests in fields such as power, building materials, automotive, and oil and gas.
The company focuses on diversified development, offering infrastructure, construction, and industrial solutions.
