ZH advises Aman in the EGP 1.04 billion securitization

We are pleased to announce the closure of a significant securitization issuance by Aman for Consumer Finance SAE with a remarkable amount of EGP 1,040,000,000 (One Billion and Forty Million Egyptian Pounds).

This transaction is considered as the fourth issuance of the first multiple-issuances program of Aman Securitization slated for EGP 5 billion. This fourth issuance of the program has been issued in four tranches secured and collateralized by consumer finance loans originating from Aman Consumer Finance (Originating Entity).

𝗧𝗵𝗶𝘀 𝗶𝘀𝘀𝘂𝗮𝗻𝗰𝗲 𝗶𝘀 𝗰𝗼𝗻𝘀𝗶𝗱𝗲𝗿𝗲𝗱 𝘁𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 𝗶𝗻 𝘁𝗵𝗲 𝗘𝗴𝘆𝗽𝘁𝗶𝗮𝗻 𝗺𝗮𝗿𝗸𝗲𝘁 𝘁𝗼 𝗮𝘀𝘀𝗶𝗴𝗻 𝗽𝘂𝗿𝗰𝗵𝗮𝘀𝗲𝘀 𝗮𝗹𝗼𝗻𝗴 𝘄𝗶𝘁𝗵 𝗿𝗲𝗹𝗮𝘁𝗲𝗱 𝗰𝗼𝗻𝘁𝗿𝗮𝗰𝘁𝘀 𝗮𝗹𝗿𝗲𝗮𝗱𝘆 𝗱𝗲𝗽𝗼𝘀𝗶𝘁𝗲𝗱 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝗖𝘂𝘀𝘁𝗼𝗱𝗶𝗮𝗻 𝗶𝗻 𝗽𝗿𝗲𝘃𝗶𝗼𝘂𝘀 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀 (𝗶𝗻 𝘁𝗵𝗶𝘀 𝗰𝗮𝘀𝗲, 𝘁𝗵𝗲 𝘁𝗵𝗶𝗿𝗱 𝗶𝘀𝘀𝘂𝗮𝗻𝗰𝗲). The innovation in the Transaction lies in the fact that the securitization portfolio includes contracts - within the documents of the third issuance – and that such contracts have been deposited with the custodian representing 19% of the size of the fourth issuance portfolio while the remaining contracts were deposited within the 4th issuance as well.

Our team of lawyers was led by Helal El HOSSARY, Partner and Head of Capital Markets & Corporate Procedures, and included Mohamed Saeed, Senior Associate, and Farida Fayez, Junior Associate. Our Partner Sara Abdel Gabbar undertook the transaction’s due diligence.

Congratulations to our client Aman for Consumer Finance and its amazing team. Our appreciation is also extended to CI Capital Holding, the sole lead-arranger and underwriter of the issuance, and to National Bank of Egypt (NBE), the custodian of the issuance, for their support in the execution of the securitization.