Sarwa Securitization, the debt capital markets arm of Contact Financial Holding and Egypt’s first securitization issuer since 2005, has successfully closed its forty-sixth securitization bond issuance, valued at EGP 1.312 billion.
The issuance, backed by consumer finance portfolios generated by Contact Credit and its subsidiaries, received strong ratings from MERIS (Middle East Ratings and Investors Service), with tranches rated AA+, AA, and A across maturities of 13 to 60 months. The underlying portfolio, worth approximately EGP 1.94 billion, secured an (A-) rating, marking one of the highest ratings ever assigned to consumer finance portfolios in Egypt’s securitization market.
Contact Financial Holding acted as the issuance manager, promoter, and underwriter. The bonds were subscribed to by leading banking and non-banking institutions, with Commercial International Bank (CIB), Arab African International Bank, and CI Capital serving as bookrunners and underwriters. Arab Banking Corporation (Bank ABC – Egypt) was among the major subscribers, alongside several money market funds. CIB also acted as custodian and placement agent, while Ali El Din Weshahy (ALC) provided legal counsel and KPMG served as auditor.
This latest issuance brings the total value of securitizations arranged through Sarwa Securitization to EGP 35.3 billion, spanning consumer and auto finance portfolios as well as 10 real estate-backed issuances with Egypt’s leading developers.
John Saad, CEO of Contact Financial Holding, commented:
“The successful conclusion of our forty-sixth securitization bond issuance, backed by strong credit ratings, reflects the market’s confidence in our portfolios and reaffirms our leading position in Egypt’s debt capital market. The strong appetite from investors demonstrates the robustness of our consumer finance portfolio and our commitment to delivering flexible financing solutions that create long-term value.”
With Sarwa Securitization and Sarwa Sukuk, Contact Financial Holding continues to cement its leadership in Egypt’s debt capital market. The group plans further issuances across securitization, sukuk, and other capital market instruments, in collaboration with major banks and institutions, reinforcing its role in driving financial innovation and supporting Egypt’s non-banking financial sector.
