MNT-Halan's Tasaheel closes Egypt's first SME-focused issuance worth EGP4.7bln
The issuance was rated 'P1' for short-term tranches and 'A-' for long-term tranches by MERIS (Middle East Rating & Investors Service), reflecting the strength and quality of the underlying portfolio.
This transaction aligns with Tasaheel's strategy to provide financial solutions that promote financial inclusion and drive economic growth by supporting entrepreneurs and SMEs, while expanding access to financial services across Egypt.
Ahli Pharos and the Arab African International Bank acted as financial advisors and lead arrangers for the transaction. Matouk Bassiouny ; Hennawy served as legal advisor, while
Baker Tilly acted as the financial auditor. The issuance was underwritten by the National Bank of Egypt (NBE), Commercial International Bank (CIB), Suez Canal Bank, Arab African International Bank, and Ahli Pharos. The Egyptian Gulf Bank acted as the custodian bank.
Mounir Nakhla, Founder and CEO of MNT-Halan, commented: This issuance marks an important milestone in Tasaheel's journey and reflects the strength of its credit portfolio and the trust placed in its performance by financial institutions. Expanding access to finance for SMEs is a cornerstone for supporting Egypt's economic development, and we are proud to lead this effort through Tasaheel.
It is worth noting that Tasaheel disburses over EGP 1 billion monthly to support entrepreneurs and small businesses and holds more than 70% market share within the non-banking financial sector in Egypt, solidifying its leadership in this field.
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