AT Lease plans EGP 1 bn securitized bond offering in 3Q
DEBT WATCH- AT Lease plans EGP 1 bn securitized bond offering in 3Q: AT Lease is planning to issue EGP 1 bn in securitized bonds in 3Q2020, CEO Tarek Fahmy told the local press. The offering will feature one-year, three-year and five-year tranches, and the company will not begin negotiations with advisors until the third quarter, he said.
AT Lease will start providing factoring services to SMEs in the second half of the year after recently receiving its license from the Financial Regulatory Authority. Fahmy had originally expected to begin factoring in the first quarter.
Misr Capital Investments plans bond, sukuk sales: Misr Capital Investments, Banque Misr’s investment arm, is also planning to offer securitized bonds and sukuk worth EGP 8 bn this year, CEO and Managing Director Khalil El Bawab said during a conference. This is a slight drop from last year when the fund issued EGP 9.8 bn in securitized bonds.