Drive Finance to Issue Securitization Bonds Valued at EGP 1.4 Billion

Drive Finance, a subsidiary of GB Capital, has made headlines with the closure of its fifth securitization bond issuance worth a whopping 1.4 billion EGP. This issuance, part of the fifth securitization program by Capital Securitization, has totaled an impressive five billion EGP.

The rapid growth of Drive Finance’s portfolio and the increasing confidence of investors are evident in this latest issuance, which comes hot on the heels of a successful issuance completed just last December.

Ahmed Osama, the Managing Director of Drive Finance, expressed his delight at the overwhelming investor interest in this issuance, which exceeded double the issuance amount. He attributed this strong interest to the confidence investors have in the company’s creditworthiness and its ability to thrive in a challenging economic environment.

Remon Gaber, the Head of Treasury at Drive Finance, emphasized the success of this issuance and highlighted how diversifying the company’s funding sources has enabled it to achieve its goals, expand its financing services, and increase its market share in consumer finance and factoring activities.

The issuance was divided into three tranches, each with different durations and credit ratings, showcasing the company’s commitment to offering a variety of investment options to its stakeholders.

With Commercial International Bank acting as the financial advisor and manager for the issuance, and the Arab African International Bank serving as the custodian and underwriter, Drive Finance has demonstrated its commitment to working with reputable partners to ensure the success of its financial endeavors.

Drive Finance, operating under the umbrella of GB Capital, has established itself as a key player in consumer finance and factoring in Egypt since its inception in 2012. The company’s growth and success in the Egyptian auto finance sector, as well as its innovative digital platform “Forsa,” have solidified its position as a leader in the industry.

GB Capital, the financial arm of GB Corp, continues to offer a diverse range of financial services to various customer segments, showcasing its commitment to excellence and best practices in the financial industry.