Jameel Finance Egypt issues securitized bonds worth EGP 470 million (USD 10 million)
1xJameel Finance Egypt, a leader in innovative financial services and solutions, announced the successful completion of a securitized bond issuance worth EGP 470 million (USD 10 million). This strategic move aims to support its expansion plans and strengthen its financing capabilities, thereby enhancing its ability to meet customer needs.
The securitization process involved several leading institutions, including Beltone, which acted as financial advisor, lead manager, and lead underwriter of the issuance, executed through Tamweel Securitization Company. Other participating parties included El Dreny & Partners as legal advisors, Baker Tilly Mohamed Helal & Waheed Abdel Ghaffar as external auditors, and the Suez Canal Bank as custodian, coverage guarantor, and subscription receiver for the issuance.
This issuance is part of Jameel Finance Egypt’s efforts to diversify its funding sources and strengthen its financial flexibility. The transaction was structured into three tranches: the first tranche, valued at EGP 152 million with a 12-month maturity, received a P1 (sf) credit rating; the second tranche, valued at EGP 231 million with a 35-month maturity, received an A+ (sf) rating; and the third tranche, valued at EGP 87 million with a 48-month maturity, received an A (sf) rating. The ratings were assigned by MIRS – Middle East Ratings & Investors Service.
This structure provides a balanced mix of risk and return, making it attractive to a wide range of institutional investors. This issuance is the second under the three-year securitized bond program, totaling EGP 4 billion. It follows the first issuance under the program, launched last May with a value of EGP 500 million.
Siraj Badqail, CEO and Managing Director, Jameel Finance Egypt, expressed his pride in completing this issuance, noting that the high credit ratings reflect the quality of the financing portfolio securitized and strengthen the company’s capacity for expansion.
He added:
“This step represents a key pillar in executing our growth strategy and supports the company’s efforts to increase its market share. It also reaffirms our commitment to supporting financial inclusion in line with Egypt Vision 2030, by providing diverse financing solutions that contribute to sustainable economic development.
“In a related context, Jameel Finance – Egypt announced an increase in its issued and paid-up capital to over EGP 683 million. This move strengthens the company’s financial position and supports its future expansion in financing operations to meet growing customer demand, thereby contributing to inclusive economic growth.”
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