Cairo - Mubasher: Drive Finance, a subsidiary of GB Corp, has completed its seventh securitization bond issuance at a value of EGP 2.20 billion, as per a bourse filing.
Rated by Middle East Ratings and Investors Service (MERIS), the offering marks the second issuance under Capital for Securitization’s 16th program that totals EGP 25 billion.
The Commercial International Bank (CIB) and Arab African International Bank acted as the financial advisors, lead managers, arrangers, and promoters of the issuance.
The Egyptian Gulf Bank (EG Bank) served as custodian and subscription-receiving bank and also participated as an underwriter alongside Al Baraka Bank. Meanwhile, El Dereny Law Firm acted as legal advisor, while Baker Tilly served as auditor.
In March, GB Corp’s shareholders approved cash dividends totaling EGP 379.92 million for 2025.
