GlobalCorp Executes Egypt’s Largest Mortgage Securitization Issuance at EGP 3.31 Billion
GlobalCorp Financial Services announced the successful completion of the largest mortgage securitization issuance in the history of the Egyptian market, valued at EGP 3.31 billion, through its subsidiary Ollin Mortgage Finance.
The transaction marks Ollin’s second securitization issuance and was completed after securing approval from the Financial Regulatory Authority as part of the company’s third approved securitization program.
The issuance aims to diversify GlobalCorp’s funding sources and strengthen its financing capabilities through a bond structure designed to cater to multiple investor categories across three tranches with varying maturities and credit ratings.
The first tranche was issued at EGP 1.6 billion with a tenor of 25 months and received an AA+ credit rating, while the second tranche totaled EGP 955 million with a tenor of 37 months and an AA rating. The third tranche amounted to EGP 775 million with a tenor of 49 months and an A- credit rating.
All tranches were rated by Middle East Ratings and Investor Services.
Mohammed Abdelwahab, CEO of Ollin Mortgage Finance, described the issuance as a landmark transaction for Egypt’s non-banking financial sector.
“This issuance represents the largest mortgage securitization transaction in Egypt’s history, with a value of EGP 3.31 billion, reflecting the company’s strong operational performance and market leadership,” Abdelwahab said.
He added that the company had successfully executed two securitization issuances totaling EGP 5.9 billion over the past eight months, underscoring accelerating growth and increasing investor confidence in the company’s financial performance and business model.
A consortium of leading financial institutions participated in structuring and managing the transaction, including Arab African International Bank, Commercial International Bank, Al Ahly Pharos, and AlBaraka Capital, which acted as financial advisors, arrangers, issuance managers, and bookrunners.
Meanwhile, National Bank of Egypt acted as the subscription receiving bank, while Arab African International Bank also served as custodian for the transaction.
Several major banks participated in the subscription process, including Commercial International Bank, Al Baraka Bank Egypt, Housing and Development Bank, Al Ahli Bank of Kuwait - Egypt, and Arab Banking Corporation Egypt.
The issuance witnessed strong investor demand, reflecting growing confidence in the quality of GlobalCorp’s financial portfolios and the strength of its balance sheet, alongside rising institutional appetite for structured debt instruments in Egypt’s financial market.
Founded in 2015, GlobalCorp Financial Services Group provides integrated financial solutions across leasing, factoring, securitization, consumer finance, and mortgage finance sectors, serving corporates, SMEs, and retail customers.
The group’s shareholder structure includes international investment institutions such as Amethis, European Bank for Reconstruction and Development, and SPE Capital, alongside the group’s founder and CEO Hatem Samir.