Al Ahly Pharos Investment Banking concludes advisory on Global Corp Financial Services third securitization issuance worth EGP 1.023bln

Al Ahly Pharos Investment Banking concludes advisory on Global Corp Financial Services third securitization issuance worth EGP 1.023bln

Al-Ahly Pharos investment banking, one of the subsidiaries of Al-Ahly Financial Services Group, which represents the integrated investment arm of the National Bank of Egypt, announced that its Debt Capital Market (DCM) team successfully closed Global Corp Financial services third securitization issuance worth EGP 1.023 billion secured by a portfolio of EGP 1.647 billion assigned to Global Corp Securitization as the issuance’s special purpose vehicle (SPV) by Global Corp Financial Services, whereby Al Ahly Pharos acted as the sole financial advisor, sole transaction manager and book-runner, and arranger of the issuance while Al Ahly Pharos, National Bank of Egypt and Arab African International Bank act as the transaction underwriters. National Bank of Egypt acted as custodian and the placement agent, Dreny & Partners acted as the legal advisor, and KPMG as the auditor of the transaction, while MERIS "Middle East for Credit Rating and Investors Service", acted as the credit rating for the issue.

Ahmed Heider CEO & Managing Director of Al Ahly Pharos Investment Banking Group has expressed his contentment about the closure and issuance of the transaction and articulated his appreciation to all parties involved in the issuance with tremendous gratitude for the FRA for their continuous efforts and