AUR Capital has acted as the issuance manager and financial advisor in the second securitized bond issuance for AUR Securitization, in cooperation with the Arab African International Bank (AAIB), which acted as issuance manager, financial advisor, arranger and promoter of the issuance and guarantor of the subscription coverage.
The bonds were issued in exchange for the financial rights portfolio of AUR Leasing and Factoring. The issuance is divided into three tranches. The first comes with a value of EGP 208m, the second with a value of EGP 548m, and the third with a value of EGP 368m. The credit rating of the issuance is “A+”.
This is the second issuance for AUC Financial Leasing. The company completed the first issuance last March, at a value of EGP 790m.
Ashraf Salman, Chairman of AUR Capital, said the second issuance of the group comes within its framework to provide non-traditional financing tools and rapid liquidity for the group’s companies. He indicated that AUR Capital Group and its subsidiaries plan successive issuances with a total value of EGP 8bn over the next three years, to provide the required liquidity in line with the expansion and investment plans of the group.
Abdel Aziz El-Sherbiny, CEO of AUR Capital Group, said that the completion of this issuance in record time indicates the efficiency of the group’s financial portfolio and its team, especially that it comes a short period after the completion of the first issuance, which witnessed a great turnout from investors and financial institutions.
Soha Suleiman, Managing Director of AUR, said that the completion of two issuances in the first half of the year amounting to approximately EGP 2bn is evidence of the upward growth of the group’s business volume as well as the quality of the financial leasing portfolio, which got a rating that easily enhanced underwriting coverage. She stressed that the company aims to utilize the diverse package of financing products and services that characterize the company.
AUR Capital is one of the direct investment companies operating in the Egyptian market. It started in April 2017 and invests its capital in non-banking financial services, and the assets under management on its part amounted to more than EGP 3bn.
As for AUR Leasing and Factoring, it is an Egyptian joint stock company established in 2018 under Law 159 of 1981, with an authorized capital of EGP 100m and an issued and paid up amount of EGP 10m. It aims to provide multiple leasing solutions for all sectors in the Egyptian economy.
Successive capital increases have taken place, to currently reach an authorized capital of EGP 500m, an issued capital of EGP 330m, and a paid-up capital of EGP 249m. The company also obtained a factoring license in 2022, and accordingly its commercial name was modified to AUR Leasing and Factoring.
