{"id":542600,"date":"2022-01-05T03:40:48","date_gmt":"2022-01-05T03:40:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/05\/gb-leases-returns-to-securitization-market-with-egp-4-3-bn-sale\/"},"modified":"2022-01-05T03:40:48","modified_gmt":"2022-01-05T03:40:48","slug":"gb-leases-returns-to-securitization-market-with-egp-4-3-bn-sale","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/05\/gb-leases-returns-to-securitization-market-with-egp-4-3-bn-sale\/","title":{"rendered":"GB Leases returns to securitization market with EGP 4.3 bn sale"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>GB Lease <\/strong><strong>has completed the sale of EGP 4.3 bn of securitized bonds<\/strong> to investors, according to <a href=\"https:\/\/ent.news\/2022\/1\/CIB.pdf\">a statement (pdf)<\/a> from CIB, which worked on the transaction. The leasing arm of GB Auto sold the securities in two separate issuances with tranches rated A through AA+. Abu Dhabi Commercial Bank was the sole subscriber to both issuances, which were backed by leasing receivables.<\/p>\n<p><strong>This is the company\u2019s first issuance in a year:<\/strong> The last time GB Lease went to the securitization market was last January when it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/510fb761-11b7-4c5a-8cdb-6b1b17a33727\">sold EGP 2 bn<\/a> of asset-backed securities.<\/p>\n<p><strong>Advisors:<\/strong> CIB, Banque du Caire and the Suez Canal Bank acted as joint arrangers, underwriters, and financial advisors on a EGP 1.65 bn sale, while CIB, AAIB, Banque du Caire, and Al Ahly Bank of Kuwait worked on the second, EGP 2.65 bn issuance. Law firm Dreny and Partners provided counsel, while Sherif Dabbous was the auditor.<\/p>\n<p><strong>MEANWHILE-<\/strong><\/p>\n<p><strong>Premium Card closed an EGP 170 mn short-term <\/strong><strong>securitized bond sale<\/strong>, financial advisor EFG Hermes <a href=\"https:\/\/ent.news\/2022\/1\/EFG-Hermes-x-Premium-Securitization-Sixth-Close-English.docx.pdf\">announced<\/a><a href=\"https:\/\/ent.news\/2022\/1\/EFG-Hermes-x-Premium-Securitization-Sixth-Close-English.docx.pdf\">(pdf)<\/a> yesterday. The issuance consists of a single ten-month tranche, and is part of a two-year, EGP 2 bn securitization program Premium Card launched last year. The bonds received a Prime 1 rating from rating service MERIS.<\/p>\n<p><strong>Advisors: <\/strong>EFG Hermes was the sole financial advisor, sole transaction manager, book-runner, underwriter and arranger for the offering.<\/p>\n<p><strong>2022 SO FAR-<\/strong><\/p>\n<p><strong>The two <\/strong><strong>sales bring the total value of securitized bonds sold since the start of the new year to almost EGP <\/strong><strong>6.9 bn<\/strong>, by our count. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4cd75c45-5faa-47fc-b9de-124f963012cf\">CI Capital\u2019s leasing arm Corplease<\/a> kicked off the year with a four-tranche, EGP 2.4 bn issuance earlier this week. <strong>A total of 19 securitized bond issuances with a combined value of EGP 15.8 bn<\/strong> went to market last year, according to our figures. Three of those issuances, together worth nearly EGP 1.75 bn, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21504d18-3879-4c04-8bae-6aa46fd4c18c\">took place last week<\/a> as the market saw a flurry of activity to close out 2021.<\/p>\n<p><strong>In the pipeline:<\/strong> Cairo Housing and Development\u2019s maiden issuance to the tune of EGP 146 mn, while its sister companies are slated to take a EGP 190 mn issuance to market after receiving regulatory approval.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GB Lease has completed the sale of EGP 4.3 bn of securitized bonds to investors, according to a statement (pdf) from CIB, which worked on the transaction. The leasing arm of GB Auto sold the securities in two separate issuances with tranches rated A through AA+. Abu Dhabi Commercial Bank was the sole subscriber to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":542601,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7274],"tags":[240,88,84,72,241,243,242,85],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-cib","tag-debt-watch","tag-efg-hermes","tag-enterpriseam","tag-gb-auto","tag-gb-lease","tag-leasing","tag-securitization","wpautop","entry"],"acf":{"mongo_id":"1205d828-fac0-43bc-8078-a6961eed086e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/1\/77.jpg","photo_position":"above","related_issue":[542594],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>GB Leases returns to securitization market with EGP 4.3 bn sale - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/05\/gb-leases-returns-to-securitization-market-with-egp-4-3-bn-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GB Leases returns to securitization market with EGP 4.3 bn sale\" \/>\n<meta property=\"og:description\" content=\"GB Lease has completed the sale of EGP 4.3 bn of securitized bonds to investors, according to a statement (pdf) from CIB, which worked on the transaction. 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The two institutions were joint financial advisors on the transaction alongside the National Bank of Egypt (NBE).The details: The three-tranche issuance is backed by\u2026","rel":"","context":"In &quot;Debt&quot;","block_context":{"text":"Debt","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/debt\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/142.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":558937,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/03\/securitized-bonds-galore\/","url_meta":{"origin":542600,"position":1},"title":"Securitized bonds galore","author":"enterpriseam admin","date":"3 January 2021","format":false,"excerpt":"CI Capital\u2019s Corplease has closed a EGP 2.7 bn securitized bond issuance, the largest of its kind by a private sector company, investment bank Misr Capital said in a statement (pdf) over the weekend. The four-tranche sale was backed by EGP 3.4 bn in receivables from leasing contracts. The bonds\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/18.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555833,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/29\/gb-lease-gears-up-for-new-securitized-bond-issuance\/","url_meta":{"origin":542600,"position":2},"title":"GB Lease gears up for new securitized bond issuance","author":"enterpriseam admin","date":"29 November 2021","format":false,"excerpt":"GB Auto\u2019s financial leasing arm, GB Lease, is planning to take a multi-tranche EGP 1.6 bn securitized bond issuance to market in December, Al Shorouk reports, citing unnamed sources in the know. CIB is acting as primary lead manager for the issuance. The sale follows a separate issuance in January,\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/635.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":656431,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/tamweel-mortgage-finance-at-lease-close-securitized-bond-issuances\/","url_meta":{"origin":542600,"position":3},"title":"Tamweel Mortgage Finance, AT Lease close securitized bond issuances","author":"enterpriseam admin","date":"4 December 2024","format":false,"excerpt":"The two transactions bring the total value of securitized bonds issued in Egypt this year to more than EGP 32.9 bn","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559807,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/04\/at-lease-takes-egp-1-bn-securitized-bond-to-market\/","url_meta":{"origin":542600,"position":4},"title":"AT Lease takes EGP 1 bn securitized bond to market","author":"enterpriseam admin","date":"4 February 2021","format":false,"excerpt":"AT Lease has issued its second securitized bond offering worth EGP 1.09 bn after receiving the greenlight from regulators to move forward with the issuance, the company said in an EGX disclosure (pdf) yesterday. The three-tranche issuance, initially slated for 3Q2020, has seen AT Lease offer an initial 13-month EGP\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/87.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566966,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/misr-capital-closes-egp-2-2-bn-securitized-bond-issuance-for-corplease\/","url_meta":{"origin":542600,"position":5},"title":"Misr Capital closes EGP 2.2 bn securitized bond issuance for Corplease","author":"enterpriseam admin","date":"8 January 2020","format":false,"excerpt":"DEBT WATCH- Misr Capital closes EGP 2.2 bn securitized bond issuance for Corplease: Misr Capital has concluded a EGP 2.2 bn securitized bond issuance on behalf of CI Capital\u2019s Corplease, according to Al Mal. The four-tranche issuance was backed by EGP 3 bn in receivables from leasing contracts. The tranches\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/543.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=542600"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542600\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542594"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/542601"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=542600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=542600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=542600"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=542600"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=542600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}