CI Capital Successfully Concludes EGP 1,298.5 Mn Securitized Bond Issuance for Al-Tameer Leasing and Factoring Company (Al Oula)

CI Capital (CICH.CA), the leading diversified financial services group, announced today the successful conclusion of a securitized bond issuance worth a total of EGP 1,298.5 million for El Taamir Securitization, in which Al-Tameer Leasing and Factoring Company (Al Oula) is the originator and assignor of the portfolio.

The issuance of Al-Tameer Leasing and Factoring Company (Al Oula) comes in 3 tranches: The first tranche valued at EGP 573.5 Mn, with a tenor of 25 months, received AA+ rating from Middle East Ratings and Investor Services (MERIS). The second tranche, valued at EGP 462 Mn, with a tenor 37 months, received a rating of AA-. The third tranche, valued at EGP 263 Mn, with a tenor 48 months, received a rating of A.

Haitham Serag, CEO of Al Tameer Leasing and Factoring, emphasized that the success of the second securitization issuance reflects investors’ confidence in the company’s strength and its ability to achieve sustainable growth. He noted that the company’s portfolio currently stands at around EGP 7 billion, with a target of reaching EGP 8.5 billion by the end of the year.

Serag highlighted that the company has achieved remarkable progress since the beginning of the year, signing leasing and factoring contracts worth a total of EGP 5.1 billion in the first half, 55% of which are concentrated in the real estate sector. He further added that the company is expanding through joint financing contracts valued at EGP 850 million and has increased its capital to EGP 712 million to support future growth plans.

Amr Helal, CEO of the Investment Bank (Sell-Side) at CI Capital, expressed his pleasure for the successful completion of the securitized bond issuance for Al-Tameer Leasing and Factoring Company (Al Oula), marking another milestone in CI Capital’s efforts to expand access to diversified financing solutions.

This achievement underscores CI Capital’s ability to execute consecutive transactions successfully, further strengthening our leadership in the debt capital markets. Finally, Helal highlighted the huge efforts of CI Capital’s Debt Capital Markets team and all parties involved in the success of the issuance.

Mohamed Abbas, Head of the Debt Capital Markets at CI Capital, expressed his pleasure in completing the issuance for Al-Tameer Leasing and Factoring Company (Al Oula). He noted that this issuance reflects the continued confidence of leading leasing companies in utilizing debt capital market instruments as a key financing tool.

Finally, Abbas highlighted the strong investor appetite for the issuance, with coverage reaching c.200%, which reflects CI Capital’s ability to access a wide base of investors through its leading position in the market, in addition to the solid performance of Al-Tameer Leasing and Factoring Company’s (Al Oula) portfolios.

CI Capital acted as the Sole Financial Advisor, Issuance Manager, Bookrunner and Lead Arranger, while Baker Tilly acted as the issuance’s auditor, and Dreny & Partners acted as the legal advisor.