Ollin Mortgage Finance, a subsidiary of GlobalCorp, has finalized its second mortgage securitization bond issuance worth EGP 3.31bn, following approval from the Financial Regulatory Authority (FRA).
The issuance was executed under the company’s third securitization program and structured across three tranches to appeal to diverse investor segments. The first tranche totaled EGP 1.6bn with a 25-month tenor and an AA+ rating; the second amounted to EGP 955m with a 37-month tenor and an AA rating; and the third was valued at EGP 775m with a 49-month tenor and an A- rating. All tranches were rated by Middle East Ratings and Investor Services (MERIS).
Mohammed Abdelwahab, CEO of Ollin Mortgage Finance, described the transaction as the largest mortgage securitization issuance in Egypt to date. He noted that the company has completed two issuances worth a combined EGP 5.9bn in just eight months.
The deal was structured and managed by a consortium of leading financial institutions, including Arab African International Bank, Commercial International Bank (CIB), Al Ahly Pharos, and AlBaraka Capital, acting as financial advisors, arrangers, issuance managers, and bookrunners. The National Bank of Egypt served as the subscription receiving bank, while Arab African International Bank also acted as custodian.
Subscription participation came from several banks, including CIB, Al Baraka Bank Egypt, Housing and Development Bank, Al Ahli Bank of Kuwait – Egypt, and Arab Banking Corporation – Egypt. According to the company, the issuance attracted strong investor demand, underscoring growing confidence in securitized instruments and GlobalCorp’s financial strength.
Founded in 2015, GlobalCorp provides leasing, factoring, securitization, consumer finance, and mortgage finance services. Its shareholders include Amethis, the European Bank for Reconstruction and Development, SPE Capital, alongside founder and CEO Hatem Samir.
