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   Banque Misr Underwrites the seventh issuance of securities bonds for Contact Company with a total subscription amount of LE1.11 billion

Banque Misr has underwritten the seventh issuance of the security bonds of Contact Company with a total value of LE420 million. The distribution of issuance fell in three different tranches based on term and revenue: the value of the first tranche was LE157 million for a period of 13 months at a fixed return of 9%; the value of the second tranche was LE190 million for a period of 37 months at a fixed return of 10.25%; and the value of the third tranche was LE73 million for a period of 5 years at a fixed return of 11%.

The seventh issuance was launched as a private offering and was open for subscription on December 20, 2010. The IPO was completed within seven days with total subscriptions of LE1.11 billion; the issuance was oversubscribed 2.64 times. The first tranche of the issuance received a credit rating of AA +, the second AA and the third A. It was also agreed that Banque Misr was to underwrite the issuance in partnership with the Arab African International Bank as a guarantor to cover part of the issuance.

It is worth mentioning that Banque Misr underwrote the coverage of the sixth issuance of the security bonds with a value of US$470 million. The sixth issuance took place through public and private offerings and was divided into three different tranches of various terms to meet the requirements of potential investors. The coverage of the issuance was oversubscribed 3.67 times.

These achievements represent a continuation of the Bank’s ongoing success in promoting and covering bonds and IPOs, as well as maintaining its leading role as a major supporter of investment and development efforts in Egypt.