Cairo – GlobalCorp Financial Services has successfully completed two significant securitization transactions totaling EGP 4.91 billion, marking a pivotal moment in the company’s growth trajectory. The completion includes the company’s seventh leasing securitization portfolio valued at EGP 2.32 billion and its inaugural mortgage finance securitization portfolio worth EGP 2.59 billion.
Both transactions demonstrated exceptional market reception, with the combined issuance achieving oversubscription rates exceeding 100%. This strong investor response reflects the market’s confidence in GlobalCorp’s asset quality and operational stability. The successful placement was supported by participation from 13 local banking institutions, with major banks contributing approximately 55% of the total coverage, including:
- ▪ National Bank of Egypt (NBE)
- ▪ Commercial International Bank (CIB)
- ▪ Arab African International Bank (AAIB).
The transactions coincide with GlobalCorp Financial Services’ tenth anniversary, reinforcing the company’s established position in Egypt’s non-banking financial services sector. Since its founding in 2015, the company has focused on delivering comprehensive financing solutions across diverse market segments, from major corporations to small and medium enterprises and individual clients. This approach aligns with Egypt’s Vision 2030 objectives for financial inclusion and economic development.
Hatem Samir, Co-Founder, Group CEO and Managing Director of GlobalCorp Financial Services, emphasized the strategic importance of these achievements, “The completion of these securitization issuances represents a significant milestone that demonstrates the confidence our partners and investors place in our long-term strategy. These transactions strengthen our position in Egypt’s non-banking financial services market, while providing innovative financing instruments that support various economic sectors.”
The securitizations form part of GlobalCorp’s second EGP 10 billion securitization program, following the early completion of its initial EGP 10 billion program. This progression underscores the company’s commitment to diversifying funding sources and optimizing liquidity management while maintaining robust growth momentum.
The seventh leasing securitization was structured across three tranches with varying maturities and credit ratings assigned by Middle East Rating and Investors Service. Tranche A secured EGP 1.04 billion with a 25-month tenor and AA+ rating, Tranche B raised EGP 648 million over 37 months with an AA rating, and Tranche C obtained EGP 640 million across 53 months with an A- rating.
Ahmed El Toubgy, CEO of Leasing at GlobalCorp Financial Services, noted the transaction’s significance, “This seventh securitization reflects our strong financial fundamentals and consistent operational performance. We remain focused on expanding our client portfolio and delivering integrated solutions that facilitate business growth and contribute to Egypt’s economic development.”
The mortgage finance securitization, structured as four distinct tranches, represents GlobalCorp’s entry into this specialized market segment. Tranche A captured EGP 890 million over 24 months with an AA+ rating, Tranche B secured EGP 630 million across 36 months with an AA- rating, Tranche C raised EGP 625 million over 48 months with an A rating, and Tranche D obtained EGP 445 million across 60 months with an A- rating.
Mohamed Abdelwahab, Executive Director of Mortgage Finance (Ollin) at GlobalCorp Financial Services, highlighted the achievement’s broader implications, “The successful completion of our first mortgage finance securitization validates our rapid growth trajectory and confirms the increasing market demand for mortgage financing solutions in Egypt. We are committed to continued innovation within this sector to support national financial inclusion initiatives.”
These securitization transactions solidify GlobalCorp Financial Services’ leadership position within Egypt’s non-banking financial services landscape. The company’s diversified product portfolio, encompassing leasing, mortgage finance, factoring, and additional financial solutions, positions it to address the evolving needs of Egypt’s business community and individual consumers. The strong market response to these issuances indicates sustained investor confidence and supports the company’s expansion strategy moving forward.
