Tawasoa lands $997.6K Islamic facility to triple its credit financing

What's the deal? Tawasoa FactoringDealroom has a profile for this one. Try Dealroom →, a non-banking financial institution listed on the Egyptian ExchangeDealroom has a profile for this one. Try Dealroom → (EGX), has signed debt facilities totalling 50,000,000 EGP ($997,600). The package pairs a 25,000,000 EGP facility with Faisal Islamic Bank of EgyptDealroom has a profile for this one. Try Dealroom → and a parallel 25,000,000 EGP facility with Arab African International BankDealroom has a profile for this one. Try Dealroom →.

How it works: Repayments under both facilities will come from cash flows generated by the company's factoring contracts.

Why it matters: Tawasoa said the two facilities collectively triple its total credit financing.

The signal: The quick move to stack fresh debt from two lenders points to a company scaling its factoring book fast — and to steady appetite among Egyptian banks, including Islamic finance providers, to back non-banking lenders.

Read more: Islamic Finance News

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