Al Ahly Pharos Investment Banking and Suez Canal Bank Successfully Conclude 318 MN Securitized Bond Issuance For Jameel Finance

Al-Ahly Pharos investment banking, the Investment banking arm of National Bank of Egypt and Suez Canal Bank announced today that they acted as the financial advisors, transaction lead arrangers, and book-runners, for Tamweel Securitization Company’s 3rd Securitization Issuance of the 5th Program valued at EGP 318 million secured by a portfolio worth EGP 396 million assigned by Jameel Finance

Also Suez Canal Bank acted as the Custodian and Arab Bank acted as the Placement, While Dreny & Partners acted as the legal advisor, Baker Tilly (Mohamed Hilal & Wahid Abdelghaffar) acted as the transaction’s auditor and MERIS “Middle East for Credit Rating and Investors Service”, acted as the credit rating agency for the issue. Also, Al-Ahly Pharos investment banking acted as the transaction’s underwriter.

The bond is comprised of 2 tranches rated by Middle East Rating Services (MERIS) as P1and A respectively. The first tranche is worth EGP 153 million with a tenor of 12 months, the second is worth EGP 165 million with a tenor of 24 months