Egypt's Sarwa Securitization Closes Bond Backed by Contact Portfolios

Sarwa Securitization, the debt capital markets arm of Contact Financial Holding, has completed its forty-sixth securitization bond issuance, continuing its role as Egypt’s first securitization issuer since 2005, as per an emailed press release.

The issuance, backed by consumer finance portfolios generated by Contact Credit, its subsidiaries, and sister companies, totaled EGP 1.312 billion (US$27.49 million) in the third quarter (Q3) of 2025.

The bond was rated AA+, AA, and A by Middle East Ratings and Investors Service (MERIS) across three tranches with maturities ranging between 13 and 60 months.

The underwriting portfolio of the issue, valued at about EGP 1.940 billion (US$40.65 million), received an A- rating, among the highest assigned to consumer finance portfolios backing securitization bonds in Egypt.

Contact Financial Holding acted as the issuance manager, promoter, and underwriter.

Institutions including Commercial International Bank (CIB), Arab African International Bank, and CI Capital served as transaction bookrunners and underwriters.

Bank ABC–Egypt joined as a main subscriber along with several money market funds. CIB also acted as custodian and placement agent.

Legal advisory was provided by Ali El Din Weshahy (ALC), with KPMG serving as financial auditor.

With this transaction, the total value of securitizations arranged through Sarwa Securitization has reached about EGP 35.3 billion (US$740 million).

These issuances are backed by Contact’s portfolios in auto and consumer finance, along with 10 separate issuances supported by real estate portfolios from Egyptian developers.