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Thursday, 14 November 2019

Raya to issue securitized bonds worth EGP 500 mn

The Financial Regulatory Authority has signed off on Raya Holding’s plans for its second EGP 497.5 mn securitized bond issuance for its subsidiaries, Raya Electronics, Aman Financial Services, and Aman Microfinance, the company said in a bourse disclosure (pdf). The four-tranche issuance will include bonds with maturities of six, nine, 12, and 24 months carrying yields ranging from 12.49-13.69%. Subscription will be open only to financial institutions. The date for the issuance has yet to be decided. Raya had issued its first securitized bond offering worth EGP 500 mn for the same three subsidiaries at the end of October.

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