Cairo – Mubasher: Raya Holding for Financial Investment announced that its subsidiaries Aman Financial Services, Aman for Microfinance, and Raya Electronics have redeemed bonds worth EGP 136 million of its first securitisation issuance.  

The deal was conducted after obtaining the required approvals from bondholders, namely the Commercial International Bank – Egypt (CIB), the National Bank of Egypt (NBE), and Attijariwafa bank Egypt, Raya Holding said in a bourse disclosure on Wednesday.

In addition, the three subsidiaries are awaiting regulatory approvals on a new securitised bond issuance worth about EGP 560 million. Any new developments related to this matter will be disclosed to the bourse in a timely manner.

It is worth mentioning that during the first quarter of 2020, Raya Holding incurred net losses of EGP 68.8 million, up from EGP 26.2 million in the year-ago period, including minority shareholders’ rights.