Cairo - Mubasher: Egypt's B.TECH and the Commercial International Bank (CIB) announced the completion of securitisation bonds worth EGP 1.04 billion.
The issuance consists of three tranches with tenors with different payment priorities, credit ratings, and interest rates, according to a press release on Tuesday.
Each of the three tranches received a credit rating of P1 (prime one), driven by the high quality of the transferred portfolio.
This issuance comes as part of a short-term EGP 5 billion securitisation issuance programme over two years after receiving the approval of the Financial Regulatory Authority (FRA).
Mahmoud Khattab, CEO and Chairman of B.TECH, commented: “This transaction demonstrates the strong financial status of the company and the diversity of financial tools we use.”
In 2022, CIB completed 11 securitisation and bond issuance transactions worth over EGP 32 billion.
Founded in 1997, B.TECH has grown into one of Egypt's most prominent and fastest-growing omnichannel consumer electronics and home appliance retailers providing its services through a solid digital platform.
