Commercial International Bank – Egypt (CIB) has completed an EGP 1.307 billion securitisation issuance for B.TECH, acting as exclusive financial advisor, lead arranger, issuance manager, promoter, and underwriter. The single-tranche issuance has a 12-month maturity and marks the third under B.TECH’s 14th securitisation programme, valued at EGP 10 billion over two years.
Commercial International Bank – Egypt (CIB) completed the EGP 1.307 billion securitisation issuance for B.TECH, taking on roles as exclusive financial advisor, lead arranger, issuance manager, promoter, and underwriter. The single-tranche deal, with a 12-month maturity, is the third tranche under B.TECH’s 14th securitisation programme, part of a two-year programme approved for EGP 10 billion.
The Middle East Rating & Investors Service (MERIS) assigned the tranche a “P1” credit rating, pointing to the underlying portfolio’s strength, comprehensive guarantees, and credit enhancements for bondholders. Investor demand was strong, signaling confidence in B.TECH, the issuer, and the transaction’s structuring.
“This transaction represents an extension of a series of successful operations we execute with B.TECH, reflecting the depth of the close relationship between the two parties,” said Amr El-Ganainy, CIB’s Deputy CEO and Executive Board Member.
El-Ganainy added: “This cooperation has become a sustainable model, as we jointly execute approximately three securitisation operations annually, in a clear confirmation of the strength and continuity of the partnership. Through this cooperation, we are keen to provide flexible financing solutions that support the company’s growth plans, and keep pace with the rapid development in the consumer finance sector in Egypt.”
CIB subscribed alongside funds managed by CI Asset Management and Arab African Investment Management. Matouk Bassiouny & Hennawy served as legal advisors, with Baker Tilly as the certified financial auditor. The bank noted the issuance fits its strategy to offer financial solutions boosting market growth and investment in consumer finance.