Drive Finance, a subsidiary of GB Capital and the non-bank financial services arm of GB Corp, has completed an EGP 1.5bn bond issuance with a maturity of 13 months, the company announced.
The issuance is a key pillar of Drive Finance’s strategy to diversify its funding sources, strengthen its capital structure and sustain expansion across its core operations, particularly consumer finance and factoring.
“The successful completion of this issuance marks an important milestone in Drive Finance’s strategy to strengthen its funding capabilities and support its sustainable growth plans,” said Ahmed Ossama, Managing Director of Drive Finance.
He added that leveraging capital market instruments enhances the company’s financial flexibility and ability to meet evolving customer needs.
Despite broader macroeconomic challenges, the transaction underscores the company’s financial standing and market position.
“Successfully completing this issuance amid current economic developments and geopolitical pressures demonstrates the company’s financial strength and creditworthiness,” said Remon Gaber, Head of Treasury at Drive Finance, highlighting the company’s ‘A-’ credit rating.
The transaction involved several financial and legal advisers. CI Capital acted as issuance manager and promoter, while Matouk Bassiouny & Hennawy served as legal counsel. Middle East Rating and Investors Service (MERIS) provided the credit rating assessment, and Baker Tilly acted as the independent auditor.
