Commercial International Bank (CIB) – Egypt, the country’s largest private-sector bank, has successfully completed the fifth issuance under B.TECH’s securitisation programme, with a total value of EGP 859.4m.
CIB acted as the exclusive financial advisor, lead arranger, issuance manager, promoter, and coverage underwriter for the transaction.
The issuance was divided into two tranches: the first with a maturity of nine months and the second with a maturity of eleven months. Both tranches received a “P1” credit rating from Middle East Rating & Investors Service (MERIS), supported by the strength of the underlying receivables portfolio, along with comprehensive guarantees and credit enhancements provided to bondholders.
This transaction forms part of a two-year securitisation programme with a total value of EGP 5bn. It attracted significant investor interest, reflecting robust market confidence in B.TECH, the issuer, and the execution team.
Amr El-Ganainy, Deputy CEO and Managing Director of CIB, commented: “CIB is proud to lead this successful transaction, which contributes to supporting and expanding the consumer finance sector in Egypt. This issuance marks another milestone that confirms B.TECH’s strength and its prominent position in the Egyptian market, while also highlighting CIB’s ability to offer comprehensive financial solutions.”
Omar El-Husseiny, CEO of Global Markets at CIB, added: “This deal crowns CIB’s accumulated expertise in debt structuring and financial advisory, along with its competitive edge in underwriting, reaffirming the bank’s role as a trusted financial advisor and partner in the Egyptian market.”
Heba Abdel Latif, Head of Financial Institutions at CIB, noted: “This collaboration reflects the bank’s commitment to supporting companies operating in the non-banking sector, thereby contributing to economic growth and offering sustainable financing solutions that address market needs.”
Gehan El-Segini, Head of Debt Capital Markets at CIB, emphasised: “The success of this issuance reflects CIB’s commitment to providing innovative financing instruments aligned with client ambitions, and it reinforces the growing trust B.TECH places in its ongoing partnership with CIB.”
CIB subscribed to the issuance alongside several investment funds managed by CI Asset Management and Arab African Investment Management. Law firm Matouk Bassiouny & Hennawy served as legal advisor to the transaction, while Baker Tilly acted as the certified financial auditor.
This latest issuance aligns with CIB’s strategy to deliver advanced financial solutions that foster market growth and stimulate investment in key sectors, particularly the consumer finance sector.
