CIB participates with EGP225mmln in Raya’s 2nd securitized bond offering

Egypt’s Commercial International Bank (CIB), the largest private bank in the country, has pumped a total amount of 225 million Egyptian pounds in Raya holding’s new securitized bond offering of 562 million pounds according to a source with knoweledge.

CIB was the lead underwriter and sole lead arranger for the transaction.

Raya Holding closes 562 million Egptian pound securitized bond sale with a weighted average yield of 10.78 percent to finance its debt.

The second securities offering in less than a year is backed by 124k consumer loans and micro loans for SMEs held by three of Raya’s subsidiaries — Raya Electronics, Aman Financial Services, and Aman Microfinance — with a delinquency rate of less than 3 percent.