GlobalCorp for Financial Services Completes Its First EGP 1 billion Short-Term Bond Issuance to Support its Factoring Business
GlobalCorp for Financial Services announced the successful completion of its first short-term debt issuance, valued at EGP 1 billion. This issuance represents the first tranche of a broader EGP 2 billion program, marking GlobalCorp entry into the short-term bond market while supporting its strategy to strengthen and expand its factoring business.
The issuance was executed in collaboration with Al Ahly Pharos, which acted as the financial advisor, lead arranger, issuance manager, bookrunner, and underwriter. Al Ahli Kuwaiti Bank also participated as an underwriter, while the Arab African International Bank served as the settlement bank alongside Next Bank, which acted as placement agent.
Several specialized firms contributed to structuring and executing the issuance. El Dereny & Partners acted as legal advisor, while Baker Tilly – Mohamed Helal and Waheed Abdel Ghaffar served as the issuance auditors. Middle East Ratings and Investor Services (MERIS) provided the credit rating for the issuance.
In recognition of this milestone, Ahmed El Tobgy, CEO of GlobalCorp for Financial Services, stated: “The successful completion of this issuance marks a significant strategic step in our efforts to diversify funding sources, supporting our growth and expansion plans.”
Additionally, Dyala Saeed, CEO of GlobalCorp and Managing Director of Finance and Factoring activities, further elaborated “This is our first issuance in the short-term bond market, and the first dedicated to supporting factoring activities, reflecting our commitment to developing innovative financing solutions that enhance the efficiency of our operations and keep pace with market developments.”
The executives jointly affirmed “We aim to build on this issuance by expanding our use of short-term debt instruments as a key component of our funding structure, enabling greater flexibility in liquidity management and supporting the growth of our factoring portfolio. GlobalCorp continues to explore new opportunities in the capital markets, including future issuances aligned with market needs, as we further strengthen our presence in the non-banking financial services sector while maintaining the highest standards of efficiency and governance.”