Worth EGP 1 billion Al Ahly Pharos Investment Banking Successfully Concludes Advisory on Global Corp for Financial Services’ 1st STN Issuance of the 1st Program for its factoring activities

Al-Ahly Pharos investment banking, the Investment banking arm of National Bank of Egypt, acted as the financial advisor, transaction lead arranger, underwriter and book-runner, for Global Corp for Financial Services’ 1st STN Issuance of the 1st Program valued at EGP 1 billion issued as one tranche. This issuance represents the company’s first short-term notes issuance and its first use for DCM instruments for its factoring activities, making it an exceptional step in line with the company’s structured growth strategy.

Ahmed Heider CEO & Managing Director of Al Ahly Pharos Investment Banking Group quoted “This transaction is a strong testament to the depth and strength of Al Ahly Pharos’ advisory platform, and it reinforces our strategic vision to drive innovation and broaden accessibility within Egypt’s capital markets in all DCM, ECM and M&As more corporates actively pursue alternative financing tools, At Al Ahly Pharos, we are committed to offering tailor-made financial solutions, both conventional and non-conventional, that respond to our clients’ diverse and evolving needs, and we remain steadfast in our commitment to leading the evolution of capital market instruments aligned with the broader vision of NBE Group to deliver a fully integrated financial service platform”

This transaction was carried out in cooperation with Al Ahly Pharos and Al Ahli Bank of Kuwait who acted as the transaction’s underwriters. Whereas Arab African International Bank acted as the payment agent and Bank NXT acted as the placement agent, While Dreny & Partners acted as the legal advisor, BakerTilly (Mohamed Hilal & Wahid Abdelghaffar) acted as the auditor and MERIS “Middle East for Credit Rating and Investors Service”, acted as the credit rating agency for the issue where Global Corp for financial services received a rating of A-, while the issuance itself was got a P2 rating..