AUR Consumer Finance, a subsidiary of AUR Capital, is preparing to launch a securitization bond issuance worth EGP 300m in the coming days, according to sources who spoke to Daily News Egypt.
The sources said that the company is finalizing the issuance procedures, with CI Capital and AUR Capital as the financial advisors, and AUR Capital as the issuance manager on behalf of its subsidiary. Al-Derini and Co. is the legal advisor for the issuance, which is expected to be completed within two weeks.
The issuance is part of AUR Capital’s ambitious plan to reach EGP 8bn in securitization issuances within three years, to provide the necessary liquidity for the group’s expansion and investment plans.
Ashraf Salman, Chairperson of the Group’s Board of Directors, said that the planned issuances will be carried out through AUR Securitization Company, another subsidiary of the group. He added that the group is keen to offer unconventional financing tools and fast liquidity to its companies.
Previously, AUR Capital successfully issued securitized bonds for AUR Leasing and Factoring, another subsidiary, worth EGP 1.124bn.
The Arab African International Bank was the co-issuance manager, financial advisor, arranger, and promoter of the issuance, as well as the guarantor of the subscription coverage.
