Cairo – Mubasher: Arabia Investments Holding announced that its subsidiary Rawajj for Autoloan closed its fourth securitised bond issued by Tawriq Securitization at a value of EGP 295 million backed by Rawajj’s portfolio.

The proceeds from the issuance will be used to boost the volume of Rawajj’s auto loan portfolio and increase the return on equity, Arabia Investments said in a bourse disclosure on Sunday.

The Commercial International Bank (CIB) and Arab African International Bank (AAIB) acted as financial advisors, coordinators, lead managers, and arrangers of the deal, while Ahli United Bank and AAIB acted as co-underwriters.   

It is noteworthy that during the first nine months of 2019, Arabia Investments Holding logged a net profit of EGP 40.5 million, compared to EGP 64.33 million in the year-ago period, including minority shareholders’ rights.