MNT-Halan’s Tasaheel concludes Egypt’s first SME-focused issuance at $94mln

Tasaheel, part of MNT-Halan, has completed Egypt’s first securitization issuance, with a total value of EGP 4.70 billion across six tranches.

The issuance was rated ‘P1’ for short-term tranches and ‘A-‘ for long-term tranches by Middle East Rating and Investors Service (MERIS), according to a press release.

Backed exclusively by a portfolio of SMEs, the transaction aligns with the company’s objectives to support the economic sector and marks the largest securitization issuance in Egypt in 2025.

This offering anchors Tasaheel’s strategy to secure financial solutions that promote financial inclusion and drive economic growth by supporting entrepreneurs and SMEs. This is in addition to scaling access to financial services across Egypt.

Ahli Pharos and the Arab African International Bank (AAIB) acted as financial advisors and lead arrangers for the transaction. Matouk Bassiouny & Hennawy served as legal advisor, while Baker Tilly was the financial auditor.

The issuance was underwritten by the National Bank of Egypt (NBE), Commercial International Bank-Egypt (CIB), Suez Canal Bank, AAIB, and Ahli Pharos. The Egyptian Gulf Bank (EG Bank) acted as the custodian bank.