Halan Consumer Finance, a subsidiary of MNT Halan, is preparing to issue securitization bonds worth EGP 1bn before the end of 2023.
According to sources, the issuance will help the company repay some of its loans to the Commercial International Bank (CIB), which is the exclusive advisor for the transaction. The legal advisor for the offering is Matouk Bassiouny and Al-Hinnawi, and the auditor is Hazem Hassan.
This will be the second securitization issuance by the company this year after it issued bonds worth EGP 1.04bn in September. The bonds were divided into four tranches with different maturity, seniority, rating, and yield.
The bonds received a credit rating of P1/P1/P1/A for the four tranches respectively, reflecting the high quality of the underlying portfolio. The issuance was part of a bond program with a total value of EGP 3bn over three years, which was approved by the Financial Regulatory Authority (FRA).
Halan Consumer Finance is one of the companies of the MNT Tech Group, which provides advanced technology services to underserved segments in the Egyptian market. The group also includes Tasaheel Microfinance and Mashroey for financing light vehicles.
