Egypt-based fintech MNT-Halan has completed three securitisation issuances worth EGP 4.0085 billion (about US$76.5 million) in total, Arab Finance reported, citing an emailed press release.

The issuances were made for its subsidiaries Tasaheel for Finance and Halan Consumer Finance, and the company said they will diversify its funding and support the expansion of its financing activities in Egypt.

Tasaheel accounted for two of the issuances, valued at EGP 1.2 billion (about US$22.9 million) and EGP 2.28 billion (about US$43.5 million).

Halan Consumer Finance received the third, worth EGP 528.5 million (about US$10.1 million).

Each issuance comes as a single tranche with a 13-month tenor. Middle East Rating & Investors Service (MERIS) assigned all three an A- credit rating.

On the advisory side, CI Capital and Al Ahly Pharos handled investment banking for the three transactions.

Matouk Bassiouny & Hennawy (MBH) provided legal counsel, and Baker Tilly was the auditor. Capital for Securitization served as the securitisation company.

Featured image: Edited by Fintech News UAE, based on image by MNT-Halan via its website and Magnific.