Amr Helal, Sell-Side CEO of CI Capital’s investment bank, stated, “The outlook for Egypt’s debt capital markets is very promising in light of growing investor interest, and increased awareness among companies about the role of debt issuances as a source of liquidity that enable business to seize growth opportunities. CI Capital aims at capturing the expected uptick in Egypt’s debt capital markets to cement its position as the leading DCM advisory house in Egypt, and to emulate its success across all investment banking services spanning M&A, capital markets and initial public offerings.”
The company closed conclusion of two securitization bond issuances, on behalf of Tamweel Securitization Company – the originator of Tamweel Mortgage’s Portfolio – and on behalf of GlobalCorp Securitization Company, the originator of GlobalCorp Financial Services’ Portfolio, with an aggregate value of EGP 2.882bn.
“I am proud of the team’s ability to successfully execute two back-to-back issuances in record time. CI Capital seeks to build on its successful track record and leading market position as the top advisory house in Egypt by offering a one-stop-shop advisory service to its network of clients. The successful conclusion of these two issuances and investor appetite in underwriting reflect the Group’s ability to provide innovative and compelling financial solutions to issuers and investors alike,” concluded Helal.
Khalil El Bawab, CEO of Misr Capital and Board Member at the Egyptian Fixed Income Association, echoed the same projections, commenting that, “The secondary debt market in particular is lined for a further uptick in terms of volume and number of investors; especially in light of the FRA and EGX’s cooperation with all market stakeholders to continuously evolve the regulatory environment governing fixed income trading.”
“The increased activity in debt capital markets encourages even more companies to explore debt issuances as a lateral source of financing that enables them to expand their operations and seize market opportunities,” he added.
Mohamed Abbas, Head of DCM at CI Capital, noted: “The DCM roster at CI Capital has a recent track record of advising on 54% of non-sovereign issuances in Egypt during 2021. I look forward to building on that momentum by utilizing CI Capital’s broad network of clients to increase our market share.”
CI Capital acted as financial adviser, issuance manager, and lead arranger in both issuances.