CI Capital has completed a securitised bond issuance of EGP 1.77 billion for Al Taamir Securitization Company, backed by receivables from Al Oula.
The issuance is the first under Al Oula’s securitisation programme and is divided into three tranches with ratings from Middle East Ratings and Investor Services. The tranches total EGP 637 million due in 25 months at AA+, EGP 422 million due in 37 months at AA-, and EGP 712.85 million due in 55 months at A-.