Cairo, 2nd October 2022: GlobalCorp- Financial Services, a leading and fast-growing non-banking financial services institution based in Egypt, announces its second securitized bond offering, in the amount of EGP 1,284 bln, as part of a larger securitization bond program worth EGP 5 bln, set to be completed by 2023.
The offering consists of four tranches with tenors of 13, 37, 60 and 70 months, respectively, with the first receiving a rating of AA+, the second AA, the third A+ and the fourth A by Middle East Rating & Investors Service (MERIS). CI Capital and CIB are acting financial advisors for the offering while Dreny & Partners are legal counsels.
“This second securitized bond offering comes only 9 months after the first issuance due to the growth GlobalCorp is witnessing over this year. The group is solidifying its presence among the top NBFIs in Egypt after a successful round of acquisition from a consortium of International Investors. The proceeds will be used to support GlobalCorp’s sustainable growth in leasing and factoring services, and to realize its expansion plans in Consumer Finance. Our vision is to create a comprehensive NBFI platform with a first to market approach to serve corporates and individuals alike leveraging on our extensive expertise in the industry.” said GlobalCorp’s Founder, 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 group’s shareholders consist of a consortium of investors made up of 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.