Cairo – Mubasher: Al Ahly Pharos Investment Banking, a subsidiary of Al Ahly Financial Services Group, advised on an EGP 707 million securitisation offering for Al Ahly Securitization Company, according to a press release. 

Al Ahly Pharos was the financial advisor, transaction lead manager, and arranger on the issue, which was secured by an EGP 787 million portfolio assigned by Al Ahly Tamkeen Microfinance.

The National Bank of Egypt (NBE), Arab African International Bank (AAIB), and Al Ahly Pharos acted as the underwriters for the transaction.

Moreover, AAIB was the custodian and placement agent, while the legal advisor was Dreny & Partners and the auditor was KPMG. The securitisation bond was fully covered by the NBE, AAIB, Attijariwafa Bank Egypt, and Bank ABC.

It is worth noting that Al Ahly Pharos managed nine debt capital markets deals totalling EGP 24.40 billion in 2023, while Al Ahly Securitization issued three securitisation transactions worth EGP 2.30 billion this year.

Earlier in 2023, Al Ahly Pharos acted as the broker for equity transaction between Midfert Egypt for Investment and the listed Egyptian Financial and Industrial Company (EFIC).