Back to the complete issue
Monday, 18 January 2021

Rawaj to issue EGP 308 mn in securitized bonds

Consumer finance company Rawaj is reportedly planning a EGP 308 mn issuance of securitized bonds in a sale arranged and managed by CIB, Al Mal reports, citing unnamed sources with knowledge of the matter. The issuance is awaiting approval from the Financial Regulatory Authority, and should be concluded by the end of January.

Rawaj would be the latest in a slew of businesses offloading receivables in the country’s hot securitization market, including Sarwa Capital, Palm Hills Development, CI Capital’s Corplease, GB Auto subsidiaries GB Lease and Drive Finance, Amer Group, and Talaat Moustafa Group.

OTHER DEBT NEWS-

Fawry has taken on a EGP 160 mn loan (pdf) from the Egyptian American Enterprise Fund.

Banque Misr’s NBFS arm BM Lease plans to expand into factoring and is looking to extend a total of EGP 2 bn worth of finance in 1Q2021, CEO Hisham Sheta told Al Mal.

CORRECTION- 18 January 2021

An earlier version of this story incorrectly said that BM Lease is the National Bank of Egypt’s NBFS arm.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.