Aman Holding, a leading consumer and micro finance in Egypt, has recently concluded its fourth issuance of a securitization bond program. This initiative is part of a broader three-year plan aimed at enhancing liquidity and facilitating financing for Aman Consumer Finance Company.
Aman Fourth Issuance
Issuer: The securitization bonds were issued by Aman Securitization Company.
Assignor and Portfolio Creator: Aman Consumer Finance Company.
Total Value of Issuance: EGP 1.04 billion.
Issuance Structure: The program consisted of four tranches with varying maturity periods:
- First Tranche: EGP 493 million (six-month maturity).
- Second Tranche: EGP 246 million (nine-month maturity).
- Third Tranche: EGP 165 million (13-month maturity).
- Fourth Tranche: EGP 136 million (24-month maturity).
Credit Ratings:
- First and Second Tranches: Rated Prime 1.
- Third and Fourth Tranches: Rated A.
CI Capital’s Role: CI Capital acted as the sole financial advisor, arranger, general coordinator, issuance manager, and subscription promoter.
Previous Issuances
First Issuance (2019)
- Total Value: EGP 800 million.
- Purpose: To optimize capital structure and fund expansion initiatives.
- Credit Ratings: Prime 1.
- Maturity Periods: Various tranches with terms ranging from six months to two years.
Second Issuance (2020)
- Total Value: EGP 1.2 billion.
- Purpose: Further enhance liquidity and support Aman Consumer Finance’s growth.
- Credit Ratings: Prime 1 and A.
- Notable Feature: Introduction of longer-term tranches.
Third Issuance (2022)
- Total Value: EGP 1.5 billion.
- Purpose: Continued capital optimization and risk management.
- Credit Ratings: Prime 1 and A.
- Investor Base: Diversified institutional and retail investors.