Ghabbour Auto (GB Auto) said that its subsidiary GB Lease concluded its\u00a0 second \u00a0securitised bond offering at a value of 2.041 billion Egyptian pounds.<\/p>\n
\u201cProceeds from the transaction will be used to deleverage GB Lease\u2019s balance sheet to improve its liquidity position, create new borrowing limits with lender banks, and support the company\u2019s future growth plans,\u201d GB Auto added.<\/p>\n
The offering includes three tranches of bonds with maturities of 13, 37, and 60 months, which are rated at AA+, AA, and A, respectively, by Middle East Rating & Investors Service (MERIS).<\/p>\n
The 13-month non-callable bond is valued at \u00a0236 million pounds and carries a variable yield of 15 basis points (bps) over the lending corridor of 9.25 percent, while the 37-month callable bond is worth 925 million pounds \u00a0with a variable yield of 30 bps over the lending corridor.<\/p>\n
Moreover, the 60-month callable bond, valued at 880 million pounds, has a variable return of 60 bps over the lending corridor.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ghabbour Auto (GB Auto) said that its subsidiary GB Lease concluded its\u00a0 second \u00a0securitised bond offering at a value of 2.041 billion Egyptian pounds.<\/p>\n","protected":false},"author":4,"featured_media":320360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,23],"tags":[],"class_list":["post-320359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-money-markets"],"yoast_head":"\n