{"id":557714,"date":"2021-09-29T04:00:19","date_gmt":"2021-09-29T04:00:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/globalcorp-could-kick-off-egp-3-3-5-bn-securitization-program-in-4q2021\/"},"modified":"2021-09-29T04:00:19","modified_gmt":"2021-09-29T04:00:19","slug":"globalcorp-could-kick-off-egp-3-3-5-bn-securitization-program-in-4q2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/globalcorp-could-kick-off-egp-3-3-5-bn-securitization-program-in-4q2021\/","title":{"rendered":"GlobalCorp could kick off EGP 3-3.5 bn securitization program in 4Q2021"},"content":{"rendered":"

<\/a> GlobalCorp could have the first tranche of a EGP 3-3.5 bn securitized bond <\/strong>issuance ready by the end of the year<\/strong>, Al Mal<\/a> reports. The non-bank lender is planning to sell EGP 1.1 bn of securities in 4Q2021, its CEO and managing director, Hatem Samir, told the newspaper. The issuance would come as part of a larger securitized bond program worth an estimated EGP 3 - 3.5 bn set to be completed by 2023, he said. The company is currently waiting on a MERIS credit rating ahead of its first issuance later this year.<\/p>\n

Advisors:<\/strong> Misr Capital and CIB are acting financial advisors for the offering while Dreny & Partners are legal counsel.<\/p>\n

GlobalCorp provides structured leasing products and other financial and advisory services<\/strong> to companies across several sectors including real estate, transport and health. Earlier this year the company said<\/a> it would double its lending portfolio to EGP 6 bn in 2021 and ramp up its factoring and leasing services to companies in the construction, health, food and education sectors.<\/p>\n

Background:<\/strong> GlobalCorp was set up in 2015 by local and foreign institutions including Ezdehar<\/a> (60% shareholders) and Sanad<\/a> (30%) \u2014 and who also announcedearlier this year<\/a>that they were looking to exit the company after hitting their target ROI. CEO Samir holds the 10% stake not owned by the latter two funds. GlobalCorp\u2019s largest shareholder, Ezdehar, counts the European Bank for Reconstruction and Development (EBRD), the European Investment Bank, and the development finance arms of the UK and the Netherlands, among its limited partners<\/a>. LPs also include the Sawiris family\u2019s Gemini Holding.<\/p>\n

IN OTHER NON-BANK LENDING NEWS-<\/strong><\/p>\n

Premium Card ups its consumer credit lines: <\/strong>Consumer finance outfit Premium Card plans to extend EGP 400 mn worth of credit facilities to its customers in the fourth quarter of this year, and EGP 1.7 bn in 2022, having already offered EGP 1 bn in credit so far in 2021, Hapi Journal<\/a> reports.<\/p>\n","protected":false},"excerpt":{"rendered":"

GlobalCorp could have the first tranche of a EGP 3-3.5 bn securitized bond issuance ready by the end of the year, Al Mal reports. The non-bank lender is planning to sell EGP 1.1 bn of securities in 4Q2021, its CEO and managing director, Hatem Samir, told the newspaper. The issuance would come as part of […]<\/p>\n","protected":false},"author":1,"featured_media":557715,"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":[88,72,1832,85],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseam","tag-globalcorp","tag-securitization","wpautop","entry"],"acf":{"mongo_id":"052847c2-bfff-40f5-9616-c5acf8b99611","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/9\/394.jpg","photo_position":"above","related_issue":[557701],"teaser":"","voice_url":""},"yoast_head":"\nGlobalCorp could kick off EGP 3-3.5 bn securitization program in 4Q2021 - 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\/2021\/09\/29\/globalcorp-could-kick-off-egp-3-3-5-bn-securitization-program-in-4q2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GlobalCorp could kick off EGP 3-3.5 bn securitization program in 4Q2021\" \/>\n<meta property=\"og:description\" content=\"GlobalCorp could have the first tranche of a EGP 3-3.5 bn securitized bond issuance ready by the end of the year, Al Mal reports. 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The program is set to be completed by 2023, according to the statement.The issuance includes three tranches with ratings of A+, AA and A, respectively, according\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/542.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549812,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/02\/record-egp-20-bn-issuance-tops-wave-of-securitizations-bringing-ytd-total-to-2x-last-year\/","url_meta":{"origin":557714,"position":2},"title":"Record EGP 20 bn issuance tops wave of securitizations, bringing YTD total to >2x last year","author":"enterpriseam admin","date":"2 October 2022","format":false,"excerpt":"Last week was a big one for the securitized bondmarket. A blockbuster EGP 20 bn issuance by the New Urban Communities Authority\u2019s (NUCA) Al Taamir headed up a string of securitizations last week, as an already hot market gets hotter. Last week\u2019s issuances more than double the total value of\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/97.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553452,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/05\/securitized-bond-market-is-still-red-hot\/","url_meta":{"origin":557714,"position":3},"title":"Securitized bond market is still red-hot","author":"enterpriseam admin","date":"5 December 2021","format":false,"excerpt":"Palm Hills Development closed on Thursday a four-tranche EGP 1 bn securitized bond issuance, marking the company\u2019s seventh securitized bond since 2016, PHD said in a statement (pdf). The issuance was backed by a EGP 1.05 bn receivables portfolio. The tranches were rated AA+, AA, A+, and A-.Advisors: Sarwa Promotion\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/222.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548207,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/31\/globalcorp-plans-to-issue-egp-1-5-bn-in-securitized-bonds-this-year\/","url_meta":{"origin":557714,"position":4},"title":"GlobalCorp plans to issue EGP 1.5 bn in securitized bonds this year","author":"enterpriseam admin","date":"31 July 2022","format":false,"excerpt":"GlobalCorp plans to issue EGP 1.5 bn worth of securitized bonds in three tranches before the end of the year, Al Borsa quotes the company\u2019s managing director, Hatem Samir, as saying. The non-bank lender late last year issued the first EGP 985 mn tranche of a EGP 5 bn securitization\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/318.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":615198,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/14\/globalcorp-issues-egp-1-35-bn-securitized-bond-issuance\/","url_meta":{"origin":557714,"position":5},"title":"GlobalCorp issues EGP 1.35 bn securitized bond issuance","author":"enterpriseam admin","date":"14 February 2024","format":false,"excerpt":"The issuance is part of GlobalCorp\u2019s EGP 10 bn securitization program","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1347.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\/557714","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=557714"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557714\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/557701"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/557715"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=557714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=557714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=557714"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=557714"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=557714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}