ContactCars Egypt Obtains EFSA’s Approval to Issue EGP900mln Securitization bonds

General Manager and Head of Capital Markets Group Suzan Hamdy said ContactCars Egypt Company obtained the approval of Egyptian Financial Supervisory Authority (EFSA) so as to launch Securitization bonds worth EGP900 million.

In a statements to Amwal Al Ghad Suzan Hamdy noted that it is scheduled to finalise arranging the measures of issuing Securitization bonds within the upcoming 2 weeks as Banque Misr and Arab African International Bank (AAIB).

CotactCar offered 10 issues from Securitization bonds with more than EGP4 billion.

National Bank of Egypt (NBE), Commercial International Bank(CIB) and  AAIB  have participated in arranging the tenth issuance from Contact’s Securitization bonds totalling EGP629million in the last year.