Arab Finance: Al -Ahly Pharos carried out the process of issuing echo bonds worth 881.5 million pounds for Al -Ahly Capital Finance Company for microfinance.
The company added that Al -Ahly Pharos for promotion and subscription coverage – the investment arm of the National Bank of Egypt Group – took over the role of the issuance manager and the financial advisor.
This version is the third for Al -Ahly Tamkeen Company, within the company's strategy to enhance its financing sources and diversify its financial tools, in the context of supporting microfinance and expanding the scope of beneficiaries of its financing services.
While Al -Ahly Pharos, Al -Ahly Bank, the Arab African International Bank, the Suez Canal Bank, and the Cairo Bank, played the guarantor of the underwriting coverage in this issuance and the guaranteed with a portfolio of future financial rights for microfinance contracts with a total value of approximately 1.094 billion pounds.
The Arab African International Bank assumed the role of the subscription recipient, while the Suez Canal Bank played the role of the Secretary of Conservation, and the office of Maatouk Bassiouni and Hinnawi also assumed the role of the legal advisor for the issue, while Baker Tele – Mohamed Hilal and Waheed Abdel Ghaffar took over the role of the auditor, while Mereis – the Middle East granted the credit rating of the issuance.
The version comes on 5 different segments, the value of the first segment is 210 million pounds of 6 months, the second with a value of 155 million pounds of 9 months, the third with a value of 135 million pounds of 12 months, the fourth with a value of 307 million pounds of 18 months, the fifth and the last with a value A-, and the latter on classification .a-
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