GlobalCorp-Financial Services, a factoring and leasing non-banking institution based in Egypt, has announced its second securitised bond offering, in the amount of EGP 1.284bn (£57.5m), as part of a larger securitisation bond programme worth EGP 5bn (£224m), 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 and KPMG are the auditors.
