Egypt’s leasing and asset finance
company Corplease completed Egypt’s first lease-backed
securitisation via its SPV, the Egyptian Securitisation Company
(ESC). ESC issued bonds – rated ‘AA’ by the local arm of Moody’s –
for £33.6m, which was also backed by a portfolio of 516 lease
contracts. Excess contracts and bank guarantees, acted for by
Egypt’s Commercial International Bank (CIB) and HSBC, provided
credit enhancement for the securitisation. The bonds carry a fixed
coupon of 9.75 per cent payable monthly and have an average life of
slightly more than two years.
company Corplease completed Egypt’s first lease-backed
securitisation via its SPV, the Egyptian Securitisation Company
(ESC). ESC issued bonds – rated ‘AA’ by the local arm of Moody’s –
for £33.6m, which was also backed by a portfolio of 516 lease
contracts. Excess contracts and bank guarantees, acted for by
Egypt’s Commercial International Bank (CIB) and HSBC, provided
credit enhancement for the securitisation. The bonds carry a fixed
coupon of 9.75 per cent payable monthly and have an average life of
slightly more than two years.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
