Aur Leasing and Factoring raises EGP 790 mn from securitization

April 11, 2023

Private equity outfit Aur Capital and Al Ahly Pharos have closed an EGP 790 mn securitized bond issuance for Aur Leasing and Factoring, Aur said in a statement (pdf) yesterday. The three-tranche issuance is backed by an EGP 1.1 bn portfolio of receivables and has tenors ranging between 24-52 months. The bonds were rated AA+, AA, and A by the Middle East Rating and Investors Service (MERIS).

Who bought in? The National Bank of Egypt, Banque Misr, CIB, United Bank, Arab Banking Corporation and Attijariwafa Bank all subscribed to the transcation.

Advisors: Aur Capital and Al Ahly Pharos were the bookrunners and arrangers for the issuance. KPMG acted as the auditor, Banque Misr was the custodian, while Alieldien Weshahi & Partners acted as the legal advisor.

Bullish year for securitization: This latest issuance takes the total value of securitized bond issuances this year to EGP 13.3 bn, up some 34% from the same period last year.

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