The Commercial International Bank (CIB) Egypt has successfully concluded the fourth securitization deal for B.TECH, valued at EGP 1.5605bn. CIB acted as the financial advisor, arranger, manager, and promoter for the transaction, which is part of a two-year securitization Programme totalling EGP 5bn. This latest issuance was oversubscribed by 1.2 times, further highlighting strong investor confidence.
The securitization deal was structured into two tranches, with maturities of 9 and 12 months. Both tranches received high credit ratings of “P1” from the Middle East Rating and Investors Service (MERIS), underscoring the transaction’s strong creditworthiness.
Matouk Bassiouny & Hennawy provided legal advisory services, while Russell Bedford served as the issuance auditor. The Arab African International Bank (AAIB) participated as an assistant manager, issuance promoter, and underwriting guarantor for the transaction. The issuance saw significant interest, with subscriptions from investment funds managed by CI Assets Management, AAIB Asset Management (AAIM), and NI Capital.
Amr El-Ganainy, Executive Vice President and Executive Board Member of CIB, commented that the success of this deal reflects both B.TECH’s strength in the market and the continued growth of Egypt’s consumer financing sector, which has benefited from significant backing by local banks.
Heba Abdel Latif, Head of the Financial Institutions Sector at CIB, highlighted the bank’s ongoing commitment to supporting financial institutions and leading companies in the non-banking financial sector, which has seen remarkable growth in recent years, contributing to a surge in banking transactions in this area.
Jilan El-Segeny, Head of Capital Markets at CIB, noted the continued success of securitization deals led by CIB, attributing it to the bank’s solid guarantees, effective promotion efforts, and the trust it has earned from market participants.
