Cairo – Mubasher: GlobalCorp for Financial Services has closed its first short-term debt issuance, valued at EGP 1 billion, representing the first tranche of a broader EGP 2 billion program.
This issuance marks GlobalCorp’s entry into the short-term bond market while supporting its strategy to strengthen and expand its factoring business, according to a press release.
The offering 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 served as an underwriter, while the Arab African International Bank acted as the settlement bank alongside Next Bank, which acted as the placement agent.
Ahmed El Tobgy, CEO of GlobalCorp, commented: “The successful completion of this issuance marks a significant strategic step in our efforts to diversify funding sources, supporting our growth and expansion plans.”
Dyala Saeed, CEO of GlobalCorp, 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.”
They 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.”
