Hossam Hussein — Head of the Financial Sector at Raya Holding Group, which owns Aman for Financial Services — said that the process will take place through Aman Securitisation, and it is likely that the Commercial International Bank will lead the issuance, provided that a legal adviser will be appointed in the coming period
Egypt – Aman for consumer finance aims to complete the process of issuing securitisation bonds with a value ranging between EGP 600-650m within two months after obtaining the necessary approvals.
Hossam Hussein — Head of the Financial Sector at Raya Holding Group, which owns Aman for Financial Services — said that the process will take place through Aman Securitisation, and it is likely that the Commercial International Bank will lead the issuance, provided that a legal adviser will be appointed in the coming period.
He explained that the client’s proceeds will be used to finance the company’s expansion operations, pointing out that the matter will be presented to the Board of Directors to ratify the completion of the securitisation process and then to the company’s general assembly for final approval.
Hussein also told Daily News Egypt that Aman launched a cash fund of up to EGP 25m that is managed by Prime, adding that the founders will subscribe to EGP 1m to acquire about 4% of the fund’s volume, as the fund’s subscription was opened in early June and will close within two months.
Furthermore, Hussein said that the total financing portfolio of Aman Holding, including consumer finance and microfinance activities, amounted to about EGP 3.6bn by the end of the first quarter of 2022.
Aman Holding’s portfolio includes three existing companies — Aman for Electronic Payment Services, Aman for Financial Services, and Aman for Financing Micro-Enterprises — which the holding owns 99% of, in addition to two companies — Aman Consumer Finance and Aman Securitisation — that it partially owns.
© 2022 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).

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