Dreny & Partners is pleased to announce the successful closing of EGY Lease’s first securitization transaction amounting to EGP 749.8 million, where Dreny and Partners acted as the legal advisor, Misr Capital acted as lead arranger & financial advisor, Banque Misr, National Bank of Egypt, Banque du Caire, Suez Canal Bank & Misr Capital acted as underwriters of the issuance.
It is worth mentioning that the offering was backed by a portfolio of financial leasing contracts and came in four tranches, where the Middle East Rating & Investors Service “MERIS” has issued a rating report for the tranches; Prime 1 for the first, AA+ for the second, AA for the third & A for the fourth.
Motaz El Dreny Managing Partner expressed his gratitude for closing this transaction, and praised the team who worked on this deal for their dedication & hard work. Furthermore; El Dreny commented “We are extremely proud of what we have achieved in 2021 and looking forward to other successful closings in 2021”.
This transaction was led by Managing Partner, Motaz El Dreny and Associate Sherine El Menyawy.