
Financial Regulatory Authority approves 7 securitisation bond issuances worth EGP 10bn
Expected volume of securitization bond issuances to reach EGP 25bn by 2020 end: FRA Chief
Expected volume of securitization bond issuances to reach EGP 25bn by 2020 end: FRA Chief
Deal is largest securitisation process in Egyptian market history, and is projected to achieve maximum benefit from short- and medium-term financing
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.