The advisors to One Finance EGP 679m securitization
Dreny & Partners advised the closure of One Finance Consumer Finance’s second securitization transaction for their consumer finance portfolio, amounting to EGP 679 million. This transaction is part of a wider 3-year multi-issuance program with a total value of EGP 3 billion.
The issuance was backed by a receivables portfolio originated by One Finance company, and was comprised of three tranches: Tranche A amounting to EGP 198.9 million rated (P1), Tranche B valued at EGP 244.4 million rated (AA), Tranche C valued at EGP 235.7 million rated (A) by the Middle East Ratings and Investors Service (MERIS).
Commercial International Bank of Egypt acted as the financial advisor, custodian, book runner, lead arranger, and underwriter of the transaction, while Baker Tilly acted as the official auditor.
The Team
D&P Team included: senior associate Sherine El Menyawy, associate Aya Khaled and junior associate Farah Younes. From the Capital Markets Procedures team: head of capital market procedures department Nagy Ebeid and associate Mohamed Youssef.
