Barakat, Maher & Partners Advised Capital For Securitization On Bond Issuance For Erada

Bara    kat, Maher & Partners Advised Capital For Securitization On Bond Issuance For Erada

Barakat, Maher & Partners, in association with Clyde & Co, has successfully advised Capital for Securitization on the EGP 718 million securitization bond issuance, structured into three tranches, for the microfinance portfolio of Erada Microfinance Co. ("Erada").

CI Capital acted as the financial advisor, lead arranger, and underwriter, while Banque Misr served as the custodian and Subscription Receiver for the transaction.

Erada, established in 2022, is a partnership between Etisalat by e&, the Subsidiary Fund for Financial Services and Digital Transformation (an affiliate of The Sovereign Fund of Egypt - TSFE), and Mr. Amr Abou El-Azm, a recognized pioneer in Egypt's microfinancing industry. This collaboration aligns with Egypt’s Vision 2030, which aims to enhance financial inclusion and provide innovative financial services, particularly to the youth, through digitally enabled lending products.

The team from Barakat, Maher & Partners in association with Clyde & Co was led by Partner Mostafa Elsakaa, with support from Associates Walid Enany, Omar Mahmoud, and Mahmoud Toraya, as well as Trainee Karen Gabriel.

Mostafa Elsakaa commented: “Closing this deal before the start of the year was a significant challenge, and it was only made possible through the exceptional collaboration of all parties, particularly the Financial Regulatory Authority (FRA). We are thrilled to represent Erada in this issuance and see it as the first of many, driven by Erada's growing presence in the Egyptian market. This transaction marks the third successful issuance completed by our Cairo office in 2024, and we look forward to continuing to support our clients in 2025.”