Dreny & Partners Advises On 14 Securitised Bonds Issuances Worth EGP 26Bn
Date
9/24/2023 11:24:28 PM
(MENAFN- Daily News Egypt) Dreny and Partners law firm, led by partner Iman Raouf, said that it acted as a legal advisor for 14 securitised bonds issuances with a total value of about EGP 26bn.
She told Daily News Egypt that the issuances cover several key sectors, such as microfinance, consumer finance, Real estate development, and real estate financing, as well as financial leasing.
She said that financing through securitisation issuances is vital in the current situation of high-interest rates. She also said that it plays a major role in financing the expected expansions of the companies that issue securitisation programmes. Last year, the firm completed its role as a legal advisor for securitisation bond issuances worth EGP 36.45bn in 2022.
Mohamed Farid, the Chairperson of the Financial Regulatory Authority, said in a previous statement that there is an increasing demand by economic entities in various productive activities for the financing formulas provided by non-banking financial activities. He said that this reflects the importance of the non-banking financial sector, as it offers innovative financing solutions that suit the needs of the companies to grow and expand.
Farid added that the financial solutions are financing and investment tools for institutions and individuals, which requires improving and developing the procedures for issuing these tools. He said that these tools have a prominent role in financing companies, bodies, and public legal persons, and allowing them to be traded, issued, and registered in an organized and legal way. He said that this encourages many individuals and institutions to use them as one of the appropriate alternatives for accessing the financing necessary for growth and expansion, as well as for investment and savings.
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