Global Corp for financial services prepares to issue securitized bonds worth EGP 2.540 bn.
Sources told Daily News Egypt that the issuance will be completed in mid-August, and that Al-Ahly Pharos will play the role of the financial advisor, while El-Dreny & Partners will act as the legal advisor for the issuance.
The sources added that the issuance is guaranteed by the financial leasing portfolio with the aim of providing new financing alternatives for the company in light of the high interest rates.
In June 2022, Mountain View signed a 7-year financing lease agreement with Global Corp for Financial Services at a value of EGP 450m to support working capital.
The financing aims to accelerate the construction and construction of Mountain View’s latest projects and support the company’s working capital.
Hatem Samir, Managing Director of Global Corp, said at the time that the agreement is among a series of agreements between the two companies in the financial leasing and factoring sectors, with a total value of 850 million pounds. Global Corp also aims to enhance cooperation with all other economic sectors, by providing many solutions. And innovative financing tools that are suitable for many companies.
Global Corp carried out two securitization operations during the past 12 months, one of which was in January with a value of EGP 1.1bn, and the second in October of last year with a value of EGP 1.3bn.