The Financial Regulatory Authority has approved GlobalCorp’s fifth securitized bond offering of EGP 1.35bn. The issuance was structured into three tranches with different tenors and ratings: Tranche A (EGP 361m, 24 months, AA+), Tranche B (EGP 384m, 37 months, AA), Tranche C (EGP 601m, 55 months, A). The issuance is part of a larger securitization bond programme of EGP 10bn. National Bank of Egypt (NBE) acted as the book runner, while the CIB acted as the custodian. Esteemed banking institutions, such as CIB, NBE, SCB, ABK, ABC, and AWB, participated actively in the bond offering.

Source: Daily News Egypt February 14, 2024 23:17 UTC