Beltone has a new leasing agreement fresh out of the oven: Beltone Financial subsidiary Beltone Leasing and Factoring has signed a EGP 480 mn leasing and factoring agreement with baked goods maker Doughand More Food Industries (Damfi), a subsidiary of TBS Holding, the financial services firm said in a statement(pdf) Thursday.

What is Damfi planning to cook up with all this fresh capital? The company behind the Breadway brand will put to use EGP 380 mn worth of assets and production equipment under the leasing component of the agreement, while the EGP 100 mn funds raised from the factoring portion will be used to purchase raw materials, beef up inventory levels, and support working capital needs.Gen X acted as advisor to TBS Holding.

Hot on the heels of Beltone’s debut factoring agreement: Beltone Leasing and Factoring wrapped its first factoring agreement, worth EGP 200 mn, with medical equipment and services provider EGMED last week, having received its factoring license in September.

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