Al Ahly Pharos for Investment Banking, the investment arm of National Bank of Egypt, has successfully executed the first issuance under a short-term bond program for GlobalCorp Financial
Al Ahly Pharos for Investment Banking, the investment arm of National Bank of Egypt, has successfully executed the first issuance under a short-term bond program for GlobalCorp Financial Services, valued at EGP 1 billion and structured as a single tranche.
The issuance marks the company’s debut in short-term bonds, as well as its first use of non-traditional debt instruments within its factoring operations, supporting its expansion and growth strategy.
Ahmed Haidar, CEO and Managing Director of Al Ahly Pharos, stated that the issuance reflects the strength of the firm’s financial advisory platform and reinforces its strategy to deliver innovative financing solutions across debt capital markets (DCM), equity capital markets (ECM), and mergers and acquisitions (M&A).
He added that as more companies turn to alternative financing tools, Al Ahly Pharos remains committed to offering tailored, flexible solutions that meet evolving client needs, contributing to the development of Egypt’s capital markets.
The issuance was backed by a consortium of financial institutions, with Al Ahly Pharos and Al Ahli Bank of Kuwait acting as underwriters.
Arab African International Bank served as paying agent, while Next Commercial Bank acted as subscription receiving bank.
Legal advisory was provided by El Dereny & Partners, while Baker Tilly served as auditor. MERIS Credit Rating Agency assigned a rating of A- to GlobalCorp and P2 to the issuance.
