GlobalCorp Financial Services — a leading and fast-growing non-banking financial services institution based in Egypt — announced on Saturday its second securitised bond offering in the amount of EGP 1.284bn as part of a larger securitisation bond programme worth EGP 5bn that is set to conclude by 2023.   

The offering consists of four tranches with tenures 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 as financial advisers for the offering while Dreny & Partners are legal counsels and KPMG are the auditors.

“This second securitised bond offering comes only nine 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,” said GlobalCorp’s Founder, Managing Director, and Group CEO Hatem Samir.

“The proceeds will be used to support GlobalCorp’s sustainable growth in leasing and factoring services and to realise 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.”