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Raya Holding’s 3 units plan to issue EGP 500m securitised bond

Raya Holding’s 3 units plan to issue EGP 500m securitised bond
Raya Holding incurred net losses of EGP 50.9 million in H1
Raya
RAYA
-1.06% 4.65 -0.05

Cairo – Mubasher: Raya Holding for Financial Investment (Raya Holding) announced that three of its subsidiaries plan to issue securitisation bonds worth EGP 500 million, according to a bourse disclosure on Sunday.

Raya Electronics, Aman Financial Services, and Aman Micro Enterprise Services aim to issue the securitised bonds in collaboration with the Commercial International Bank (CIB) and the National Bank of Egypt (NBE) that willl act as co-managers of the transaction.

It is worth mentioning that during the first half of 2019, Raya Holding incurred net losses of EGP 50.9 million, against net profits of EGP 17.1 million in H1-18, including minority shareholders’ rights.