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Thursday, 19 November 2020

GB Lease eyes last-minute securitized bond issuance in 2020

DEBT WATCH- GB Lease eyes last-minute 2020 securitized bond issuance: Ghabbour Auto’s financial leasing arm, GB Lease, could potentially issue EGP 1 bn in securitized bonds before the year is out to finance the expansion of its leasing activities, a senior company official told Enterprise. There are currently no details on which banks are undertaking the transaction, but we’ve been told to expect an official announcement on this in the coming weeks. GB Lease’s last issuance came in January (pdf) this year when it securitized EGP 734 mn of its portfolio.

What’s a securitized bond? Funny you should ask. We have an explainer on that.

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