The Financial Regulatory Authority has approved GlobalCorp’s fifth securitized bond offering of EGP 1.35bn. The issuance was structured into three tranches with different tenors and ratings: Tranche A (EGP 361m, 24 months, AA+), Tranche B (EGP 384m, 37 months, AA), Tranche C (EGP 601m, 55 months, A). The issuance is part of a larger securitization bond programme of EGP 10bn.
Hatem Samir, Founder, Group CEO and MD of GlobalCorp, commented: “GlobalCorp’s recent growth reflects its strong commitment to excellence both internally and in serving its clients. The funds raised will support our efforts to strengthen GlobalCorp’s position as a leading non-bank financial institution (NBFI) and to expand our operations in Egypt.”
The Commercial International Bank (CIB) and Al Ahly Pharos acted as the company’s financial advisors, lead arrangers, and transaction managers, under the strategic guidance of distinguished entities. National Bank of Egypt (NBE) acted as the book runner, while the CIB acted as the custodian. The CIB, NBE, Suez Canal Bank (SCB), and Al Ahly Pharos acted as the underwriters. The legal counsel was provided by Dreny and Partners, while the audit oversight was conducted by KPMG.
The transaction achieved an exceptional oversubscription rate, reflecting the confidence and market appetite. Esteemed banking institutions, such as CIB, NBE, SCB, ABK, ABC, and AWB, participated actively in the bond offering.
Established in 2015, GlobalCorp Group has served clients across various industries, including corporates and SMEs of different sizes. The company offers clients a range of factoring and leasing services, such as financial and operating leases, factoring and structured finance solutions, as well as consumer finance and mortgage services. The group’s shareholders consist of a consortium of investors, including Amethis, the European Bank for Reconstruction and Development (EBRD), and SPE AIF I, LP (SPE Capital), in partnership with GlobalCorp’s Founder and Group CEO, Hatem Samir.
