CI Capital Holding for Financial Investments has announced that its leasing arm, Corplease, has completed its 10th securitisation bond issuance, at a value of EGP 2.7bn. In a statement to the Egyptian Exchange (EGX) on Monday, the company said that the proceeds from the transaction will be used to deleverage the company’s balance sheet. They …
The underwriting in the issuance was closed on Sunday 29 December 2019. CorpLease is one of the largest financial leasing companies and the largest issuer of securitization bonds secured by financial leasing contracts with a total of eight securitisation transactions exceeding EGP 7bn.
The eighth securitisation bond issuance for CorpLease – described by Misr Capital as “the largest leasing portfolio-backed securitised issuance yet on the Egyptian Exchange” – was backed by a single pool of receivables valued at EGP 3bn due before the legal maturity of the notes.
