Attijariwafa Bank manages EGP 75 mn of Raya securitization bonds

Attijariwafa Bank is managing 75 million Egyptian pound ($4.6 million) of Raya Holding’s securitization bond issuance  for its subsidiaries, Raya Electronics, Aman Financial Services, and Aman Microfinance.

The total issuance is valued at 500 million Egyptian pounds.

CIB, the National Bank of Egypt and Attijariwafa Bank are managing the issuance. CIB held the largest share of the issuance with 275 million pounds, while NBE’s share was 150 million pounds.

Marwa Nabil, Head of Debt & Corporate Finance said that it is considered to be the first securitized bond issuance for a short-term and it is among the bank’s SMEs finance portfolio. Attijariwafa Bank has granted a facility of 80 million Egyptian pounds.