Commercial International Bank – Egypt (CIB) has completed an EGP 1.307bn securitisation issuance for B.TECH, acting as the exclusive financial advisor, lead arranger, issuance manager, promoter, and underwriter for the transaction.
The single-tranche issuance, which carries a 12-month maturity, is the third under B.TECH’s 14th securitisation programme. The wider two-year approved programme is valued at a total of EGP 10bn.
The Middle East Rating & Investors Service (MERIS) assigned the tranche a “P1” credit rating, citing the strength of the underlying portfolio, comprehensive guarantees, and credit enhancements provided to bondholders. The issuance saw significant investor demand, reflecting market confidence in the company, the issuer, and the transaction’s management.
“This transaction represents an extension of a series of successful operations we execute with B.TECH, reflecting the depth of the close relationship between the two parties,” said Amr El-Ganainy, Deputy CEO and Executive Board Member of CIB.
“This cooperation has become a sustainable model, as we jointly execute approximately three securitisation operations annually, in a clear confirmation of the strength and continuity of the partnership. Through this cooperation, we are keen to provide flexible financing solutions that support the company’s growth plans, and keep pace with the rapid development in the consumer finance sector in Egypt,” El-Ganainy added.
CIB participated in the subscription alongside investment funds managed by CI Asset Management and Arab African Investment Management. Matouk Bassiouny & Hennawy acted as the legal advisor for the transaction, while Baker Tilly served as the certified financial auditor.
The bank stated the issuance aligns with its strategy to provide financial solutions that enhance market growth and stimulate investment in vital sectors, primarily consumer finance.
