BM Consumer Finance (Souhoola) has successfully concluded its debut securitization bond issuance, valued at EGP 478 million, in collaboration with Capital for Securitization. CI Capital, Egypt’s leading diversified financial services group, acted as the issuance manager and principal coordinator. This issuance underscores Souhoola’s commitment to expanding its financial base to meet growing customer demands.
The bond issuance comprises three tranches, reflecting strong portfolio quality
First Tranche: EGP 280mn, six-month tenor, Prime 1 rating (MERIS).
Second Tranche: EGP 139mn, 12-month tenor, Prime 1 rating.
Third Tranche: EGP 59mn, 20-month tenor, A- rating.
Aligning with Egypt’s Vision 2030
Ahmed El-Shanawany, Managing Director of Souhoola, highlighted the importance of this issuance in enhancing the company’s market share and achieving its expansion strategy. “This success reinforces our role in financial inclusion, aligning with Egypt’s Vision 2030 and fostering sustainable economic growth,” he said.
Fadi Elias, CFO of Souhoola, further emphasized the company’s strong financial growth, with a 52% increase in its financial position and a 50% expansion of its customer portfolio in Q3 2024 compared to the previous year. These results underscore Souhoola’s operational success and its strategic commitment to market leadership.
CI Capital’s Leadership in Debt Markets
Amr Helal, CEO (Sell-Side) of CI Capital’s Investment Bank, expressed pride in completing Souhoola’s first issuance as part of a three-year, EGP 3.5 billion program. “This milestone reflects CI Capital’s expertise in delivering innovative financial solutions and strengthens our leadership in diversified financial services.”
Mohamed Abbas, Head of DCM at CI Capital, noted the increasing interest of non-bank financial institutions in diversifying funding sources. He attributed this to CI Capital’s expertise in facilitating first-time issuances, contributing to the growth of Egypt’s debt capital markets.
About Souhoola
Established in 2019, Souhoola is a consumer finance leader offering innovative, tech-driven solutions designed to enhance financial inclusion. With a focus on easing economic pressures for Egyptians, Souhoola enables customers to access seamless and tailored shopping experiences.
For more updates on Souhoola’s initiatives, visit Souhoola’s Official Website.
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