MBH advises Fawry on its inaugural EGP 8 billion securitization program

We are pleased to announce that Matouk Bassiouny & Hennawy (“MBH”) acted as legal counsel to Fawry MSME Finance (“Fawry”) in connection with the launch of its EGP 8 billion multi-issuance securitization program as well as the first issuance, valued at EGP 497.5 million. This transaction marks Fawry’s first-ever securitization.

The issuance received an A- (investment-grade) rating and will support Fawry in diversifying its funding sources to meet the growing credit demand of Egypt’s MSME sector.

The MBH team advising on the securitization was led by Imane Raouf (Partner), with support from Abdelrheem Ashraf (Senior Associate) and Mariam Goubran (Associate).

CI Capital acted as financial advisor, lead arranger, issuance manager, and bookrunner. EG Bank served as custodian, Russel Bedford as auditor, and Middle East Rating & Investors Service (“MERIS”) as the rating agency.

GGI Member News Egypt Matouk Bassiouny