Arab Finance: Tarek Fahmy, CEO and Managing Director of the company announced Al Tawfiq Financial Leasing – ATLCannounced the completion of the fifth issuance of securitization bonds, part of its portfolio, with a total value of 1.459 billion pounds, according to statement Egyptian Stock Exchange.
The proceeds from the securitization process will also be used to strengthen the company's financial position, to maximize profitability rates and return on equity, as well as to support future growth plans by selecting the best investment opportunities to increase market share.
He stated that Al-Ahly Pharos Company – the investment arm of the National Bank of Egypt, CI Capital – the investment arm of the Bank of Egypt, and the Commercial International Bank, played the role of issue managers, financial advisor, arrangers and promoters of the fifth issue of Al-Tawfiq Financial Leasing Company, amounting to 1.459 billion pounds, and secured by a futures rights portfolio. For financial leasing contracts referred by the company.
The issuance was also completed in cooperation with Al-Ahly Pharos, CI Capital, and the Commercial International Bank as arrangers and promoters of the issue, in addition to the Commercial International Bank, the National Bank of Egypt, the Cairo Bank, the Arab African International Bank, and the Al-Ahly Pharos Company as guarantors of the issue’s coverage, and the National Bank played the role of subscription recipient. The Bank of Egypt, the custodian.
The ALC office, Ali Al-Din, Shahi and Partners, acted as the legal advisor for the issuance, and the office of Mohamed Hilal, Wahid Abdel Ghaffar and Partners (Baker Tilly) acted as the auditor, and the Middle East Credit Rating and Investor Service Company – Meris assumed the credit rating for the issue.
The Commercial International Bank, the National Bank of Egypt, the Arab African International Bank, the Cairo Bank, and the Export Development Bank subscribed to the issue.
On the results of its consolidated and unconsolidated operations for the financial period ending on 09/30/2024, it showed achieving a net profit. assembly It amounted to 108.268 million pounds, compared to a combined net profit of 145.194 million pounds for the same period of the previous year.
The results also showed a net profit independent It amounted to 108.146 million pounds, compared to an independent net profit of 145.009 million pounds for the same period of the previous year.
The company began its activity in 2005 by offering a variety of international leasing products and solutions within the categories of financial/capital leasing, real leasing, structured leasing, and vendor leasing. ATLEASE operates within the diversified financial sector focusing on consumer finance.
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