Al Ahly Pharos Investment Banking Successfully Concludes Advisory on Tasaheel’s EGP 2.89 Billion Securitization Issuance

In a major milestone for Egypt’s debt capital markets, Al Ahly Pharos Investment Banking, the investment banking arm of the National Bank of Egypt (NBE), has announced the successful conclusion of its advisory role on Capital Securitization Company’s 1st Securitization Issuance of the 19th Program. The transaction, valued at EGP 2.89 billion, is backed by a primary receivables portfolio worth EGP 3.2 billion assigned by Tasaheel for Financing S.A.E.

Serving as the sole financial advisor, transaction lead arranger, underwriter, and book-runner, Al Ahly Pharos orchestrated the high-profile issuance to further enhance liquid capital alternatives within the non-banking financial benefits and consumer finance sectors in Egypt.

Strategic Consortium and Key Transaction Partners

The successful closing of this multi-billion pound deal was supported by a strong consortium of leading regional financial institutions, underwriters, and banking funds. Al Ahly Pharos acted as the primary underwriter alongside a robust group of subscribing banks including Bank NXT, Al Ahli Bank of Kuwait (ABK), and MIDBANK.

To ensure a seamlessly executed transactional framework, several top-tier specialized firms were appointed to lead corporate governance, regulatory compliance, and fiscal auditing:

• Bank NXT: Served as the transaction’s primary placement agent.

• EGBank: Acted as the secure custodian for the underlying portfolio asset pool.

• Matouk Bassiouny & Hennawy: Provided comprehensive legal counsel and acted as the transaction’s legal advisor.

• Baker Tilly (Mohamed Hilal & Wahid Abdelghaffar): Managed independent accounting oversight and acted as the financial auditor.

Tranche Structure and MERIS Credit Rating

The structured financial bond is intentionally optimized to match current debt market appetites, consisting of one distinct tranche. The issuance has been assigned a strong investment-grade credit rating of “A-“ by MERIS (Middle East for Credit Rating and Investors Service). Valued at the full EGP 2.89 billion amount, the tranche features a structured maturity tenor of 13 months, striking a balance between yield performance and risk mitigation for local and regional investors.

Conclusion: Driving Growth in Egypt’s Debt Capital Markets

Ultimately, this landmark EGP 2.89 billion issuance showcases the continuous efforts of Al Ahly Pharos in expanding securitization programs across Egypt’s corporate landscape. By transforming Tasaheel’s financial receivables portfolio into highly secure, liquid investment-grade instruments, the transaction reinforces structural stability and fuels sustainable liquidity within the national digital economy and local financing markets.