GlobalCorp takes fresh securitized bonds to market: Non-banking financial services firm GlobalCorp has raised EGP 1.32 bn in a securitized bond issuance, according to a statement(pdf). The three-tranche issuance carried tenors of 25, 37, and 48 months and received ratings of AA+, AA, and A.

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Part of a wider program: This is the company’s sixth issuance and it comes as part of a wider EGP 10 bn securitization program. It follows the issuance of EGP 1.35 bn worth of securitized bonds in February under the same program.

Who bought in? CIB, the National Bank of Egypt (NBE), SAIB Bank, Industrial Development Bank, and Al Ahly Pharos acted as underwriters.

Advisors: CIB and Al Ahly Pharos acted as financial advisors, lead arrangers, and transaction managers. NBE was bookrunner, while Banque Misr served as custodian. Dreny and Partners served as legal counsel and Baker Tilly as auditor.

DATA POINT- The transaction brings the total value of securitized bonds issued in Egypt so far this year to EGP 17.4 bn, according to data tracked by Enterprise.

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