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Wednesday, 19 May 2021

More leasing, please.

GlobalCorp Financial Services is in talks with seven banks to borrow at least EGP 1.4 bn to back its leasing and factoring services, CEO Hatem Samir told Hapi Journal. The company, previously known as Global Finance, is in separate talks with the banks and is looking to obtain between EGP 200-300 mn from each, Samir said. GlobalCorp will channel the finance to companies operating in the real estate, manufacturing, healthcare, and F&B sectors.

About Global Corp: The company was set up in 2015 by local and foreign institutions including private equity outfit Ezdehar and German development bank KfW’s Sanad fund. It provides “structured leasing products and other financial and advisory services” to specific industries including real estate development, transportation, health, education, pharma, F&B, paper, and chemicals and oil services.

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