Al-Derini and Co. acts as consultant for 12 securitization issuances worth EGP 25bn

Daily News Egypt
2 Min Read

Al-Derini and Co. manages about 12 issuances of securitization bonds at the present time, with a value of about EGP 25bn.

Eman Raouf, a partner in the office, said that one of the issuances is in favour of the New Urban Communities Authority, with a value of up to EGP 15bn and it is expected to be issued next June.

Raouf added to Daily News Egypt that the rest of the issuances are in favor of various companies ranging from consumer financing, financial leasing, and real estate financing, in addition to real estate refinancing, with an average value of one issuance ranging between EGP 800m and EGP 900m.

She added that there is an issuance awaiting the approval of the Financial Regulatory Authority, which is expected to be issued during the next week in favor of a consumer finance company.

The office acted as the legal advisor for issuances of securitized bonds amounting to EGP 36.45bn during 2022.

The office provided consultations to clients in various activities in the Egyptian capital market, such as the financial leasing activity, including Global Corp. for Financial Services, FG Hermes Financing Solutions, GB Leasing and Factoring, and UE Finance, with a total value of these companies at EGP 7.7bn.

In the consumer financing activity, it provided advice to issuances belonging to ValU Consumer Finance Companies, Premium International Finance Services Company, Drive Finance and Non-Banking Financial Services Company, and Abdul Latif Jameel Finance Company, with a total value of EGP 3.1bn.

The office played the role of legal advisor to EFG-Hermes Financial Solutions and Drive Financial Services regarding issuing bonds for the two companies at a value of EGP 1.2bn and also as a legal advisor for issuance of securitized bonds for the benefit of the Arab Company for Projects and Urban Development, and Misr Italia Properties, with issuances totalling EGP 2.2bn.

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