GB Auto’s financial leasing arm, GB Lease, is planning to take a multi-tranche EGP 1.6 bn securitized bond issuance to market in December, Al Shorouk reports, citing unnamed sources.
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CIB is acting as primary lead manager for the issuance. The sale follows a separate issuance in January, when GB Lease took a triple-tranche EGP 2.04 bn issuance to market.
The securitization market has been showing signs of warming up again: In the past two months, CI Capital’s leasing arm Corplease, consumer lender valU, real estate developer Palm Hills, mortgage lender Qasatli, and EFG Hermes Corp-Solutions have all announced plans for fresh issuances.
