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GlobalCorp- Issues first Securitization Bond

28 December 2021by Shahir Elfaramawy

GlobalCorp- Financial services a leading and fast-growing non-banking financial services institution based in Egypt is announcing its first securitized bond offering in the amount of EGP 985 million. The issuance is part of a larger securitization bond program worth EGP 5 bn set to be completed by 2023.

The offering consists of three tranches with tenors of 13, 37 and 60 months, respectively, with the first receiving a rating of AA+, the second AA and third A by Middle East Rating & Investors Service (MERIS). Misr Capital and CIB are acting financial advisors for the offering while Dreny & Partners are legal counsel.

“The proceeds from the transaction will be used to drive GlobalCorp’s continued growth plan in leasing and factoring services, and to support our expansion in the Business to Consumer (B2C) segment through our newly established Consumer Finance and Mortgage companies. Our vision is to create a complete NBFI platform with all lending services available to corporates and individuals alike leveraging on our extensive expertise in the industry.” said GlobalCorp’s Managing Director and Group CEO, Hatem Samir.

Established in 2015, GlobalCorp has worked to serve clients across an array of industries, including corporates and SMEs of various sizes. The company offers clients a range of factoring and leasing services, including financial and operating leases, factoring and structured finance solutions that allow them to achieve their business goals and grow sustainably. The company leverages its team’s expertise in the financial services industry to offer full-fledged, tailored services and guidance to their clients to add value to their operations and allow them to excel in their respective industries. GlobalCorp pride themselves on delivering creative solutions of the highest quality with rapid disbursement turnaround, in line with international operating standards.