Hussein: “Al-Ahly” and “Attijari International” banks are the managers of the offering
Aman Financial Services, a subsidiary of Raya Holding Group, is seeking to offer a new securitization operation worth 600 million pounds during the current quarter.
Hossam Hussein, head of the financial sector at Raya Holding Group, revealed that the company has started a new securitization process for “Aman Financial Services” this week, at a value of EGP 600 million, pointing out that the Commercial International Bank and National Bank will act as directors and promoters of the offering.
Hussein added to the “Stock Exchange” that the securitization process will take place during the current quarter, and Al-Derini’s office and its partners will act as the legal advisor for the offering, while the “UHY” office will act as the financial advisor and auditor for the process.
He explained that the proceeds of the client will be used to finance the expansion operations of the company during the first half of the current year, pointing out that the matter will be submitted to the Board of Directors to certify the completion of the securitization process, and then to the company’s general assembly for final approval.
Hussain expected that the securitization process will take place through the issuance of bonds that are offered to solvent investors from financial institutions and banks, provided that the issuance will be divided into several segments, short-term periods of 6 months, 9 months and 12 months, medium-term periods of 3 years and 5 years, and long Term.
The article “Aman Financial Services” about to offer a new securitization of 600 million pounds was written in the Al-Borsa newspaper.