We, Dreny & Partners Law Firm, have proudly acted as legal counsel for 10 (ten) securitization transactions that have successfully completed in 2020, with a combined value of EGP 16,114,568,600 (Sixteen Billion One Hundred and Fourteen Million and Five Hundred and Sixty Eight Thousand and Six Hundred Egyptian Pounds), including five transactions were successfully closed during the last week of 2020.
Said transactions are diversified in terms of structures and portfolios’ nature. Such transaction were backed by portfolios including: financial leasing, consumer finance, real estate, microfinance and factoring contracts. In addition to that, amongst such transactions are three multiple issuances programs in consumer finance and real estate namely.
Despite 2020’s pandemic events, our Team successfully managed to handle the deals efficiently and coordinated with all the parties to the transactions, including governmental entities, throughout the lockdown and the related obstacles that have occurred during these difficult times.
On a separate note, a new financial instrument has been introduced in the market, which is "Sukuk". Sukuk tackles the aspects lacking in securitization, such as future cash flows. Hence, we see that Sukuk will have a significant market share in the coming years.