Cairo - Mubasher: GlobalCorp Financial Services has closed two securitization deals worth a combined EGP 4.91 billion, according to a press release.

The transactions include the company's seventh leasing securitization portfolio at EGP 2.32 billion and its inaugural mortgage finance securitization portfolio at EGP 2.59 billion.

The combined issuance achieved oversubscription rates exceeding 100%. It was backed by participation from 13 local banking institutions, with major banks contributing approximately 55% of the total coverage: Key lenders included the National Bank of Egypt (NBE), CIB, and  Arab African International Bank (AAIB).

Hatem Samir, Co-Founder and Group CEO of GlobalCorp, commented: "The completion of these securitization issuances represents a significant milestone that demonstrates the confidence our partners and investors place in our long-term strategy.”

“These transactions strengthen our position in Egypt's non-banking financial services market, while providing innovative financing instruments that support various economic sectors," he added.

The transactions form part of GlobalCorp’s second EGP 10 billion securitization program, after completing the first one.

The leasing portfolio was issued in three tranches with ratings ranging from ‘AA+’ to ‘A-‘, while the mortgage finance securitization was divided into four tranches rated from ‘AA+’ to ‘A-‘.

Established in 2015, GlobalCorp provides leasing, mortgage finance, factoring, and other solutions, serving corporates, SMEs, and individual clients.