MNT-Halan Concludes $31.44 Million Securitized Bond Issuance
In February 2023, MNT-Halan raised $400 million at a valuation of $1 billion.
Halan, the consumer finance arm of Egypt's first fintech unicorn MNT-Halan, has wrapped up its EGP 971.5 million ($31.44 million) securitized bond issuance.[1]
This marks the conclusion of the third and final tranche under its EGP 3 billion ($98 million) securitization three-year program.
The Commercial International Bank (CIB) assumed multiple key positions, serving as the bookrunner, promoter, arranger, transaction manager, and financial advisor.
GB's Capital for Securitization served as the custodian, ensuring the security and integrity of the bond issuance.
Hazem Hassan, an auditor from KPMG's Egypt business, provided expert counsel, contributing to the financial transparency and robustness of the transaction.
Matouk Bassiouny, a prominent firm specializing in legal services, adeptly handled the intricate bookkeeping aspects of securitized bond issuance.
MNT-Halan is a financial and non-financial services provider that was founded in 2017 by Mounir Nakhla. Its services include financing, e-commerce, purchase now pay later, payments, mobility, and on-demand logistics.[2]
In February 2023, MNT-Halan raised $400 million at a valuation of $1 billion.
Abu Dhabi’s Chimera Investments contributed a significant portion of the equity, roughly $200 million, in exchange for 20% of the Egyptian digital lender and e-commerce platform.