• Home
• News

Drive Finance, a subsidiary of GB Capital, the non-banking financial arm of GB Corp, has completed a bond issuance with a total value of EGP 1.5 billion and a maturity of 13 months, as part of its strategy to diversify funding sources and strengthen its financial structure to support growth and expansion in the Egyptian market.

The issuance forms part of the company’s efforts to make greater use of capital market instruments and broaden its funding base. This is intended to meet its financing and operational requirements while supporting the expansion of its core activities, particularly consumer finance and factoring.

Ahmed Osama: Issuance supports sustainable growth

Ahmed Osama, Executive Managing Director of Drive Finance, said completing the issuance marks an important step in the company’s strategy to strengthen its financing capabilities and support sustainable growth plans.

He added that the transaction reflects the company’s commitment to diversifying its funding sources and leveraging capital market instruments, enhancing financial flexibility and its ability to expand operations and deliver financing solutions that meet customer needs.

A- credit rating reflects the company’s creditworthiness

Raymond Gabr, Head of Finance at Drive Finance, said the issuance reflects the company’s ongoing efforts to develop its funding structure and diversify its financing instruments in line with its requirements and future plans.

He noted that completing the transaction amid current economic changes and geopolitical pressures demonstrates the company’s financial strength and creditworthiness, as reflected in its A- credit rating.

CI Capital leads the bond issuance

CI Capital acted as the issuance manager and promoter. Matouk Bassiouny & Hennawy served as legal adviser, while MERIS conducted the credit assessment of the issuance.

Baker Tilly was appointed as the issuance auditor.