Souhoola Issues USD 15.7M Bond to Support Expansion

Ahmed El-Shanawany, Souhoola Managing Director

BM Consumer Finance (Souhoola) has successfully issued its first securitized bond valued at EGP 478 million (approximately $15.7 million). The issuance was structured in three tranches to support the company’s expansion in Egypt. CI Capital managed and coordinated the transaction.

The tranches included EGP 280 million with a six-month tenor and Prime 1 rating, EGP 139 million with a 12-month tenor and Prime 1 rating, and EGP 59 million with a 20-month tenor, rated A-.

Souhoola’s Managing Director, Ahmed El-Shanawany, said the strong ratings demonstrate the portfolio’s quality and align with the company’s growth strategy, contributing to its role in promoting financial inclusion under Egypt Vision 2030.

CFO Fadi Elias highlighted the 52% year-on-year growth in Q3 2024 and a 50% expansion in the customer portfolio, affirming the company’s financial strength.

CI Capital’s Amr Helal praised the successful completion of Souhoola’s inaugural issuance, part of a larger three-year EGP 3.5 billion program, reinforcing CI Capital’s leadership in financial services.

Source: Daily News Egypt