Commercial International Bank Egypt E : (CIB) Has Successfully Closed GB Lease Company’s Ninth Issuance Worth EGP 1.82 Billion

About this update from Commercial International Bank - Egypt (cib) S.a.e.

Cairo, December 30, 2024- CIB, Egypt's leading private-sector bank, concluded its operations for the year 2024 by successfully closing the ninth securitization for GB Leasing Company worth EGP 1.82 billion. In partnership with CI Capital, CIB acted as the co-financial advisor, co-arranger, co-manager, co-promoter, transaction custodian, and underwriter. The issuance was divided into four tranches, with maturities of 13, 26, 39, and 51 months for tranches A, B, C, and D, respectively. The issued bonds received distinguished credit ratings AA+ / AA / A / A- for the four tranches respectively, from MERIS (Middle East Rating & Investor Service). This issuance is part of a three-year shelf registration program worth EGP 15 billion. The transaction was oversubscribed 1.3 times. Commenting on the transaction, Mr. Amr El-Ganainy, Deputy CEO & Executive Board Member, said, "We are pleased to partner with GB Lease Company, as this partnership underscores our commitment to providing companies with the necessary financing tools they need to succeed in an increasingly competitive landscape." Heba Abdel Latif, Head of Financial Institutions at CIB, said, "CIB played a pivotal role in this business transaction, commending the collective efforts of all participating banks and financial institutions whose contributions were essential to achieving this notable success." Gilan El Siginy, Debt Capital Markets Sector Head at CIB, said, "This issuance underlines CIB's ability to navigate these financial dealings, illustrating how years of experience have empowered us to execute these transactions confidently." CIB played a significant role in this transaction, acting as the co-financial advisor, co-arranger, co-manager, co-promoter, custodian, and underwriter. CIB, Arab African International Bank (AAIB), National Bank of Egypt (NBE), and Banque Du Caire (BDC) were the underwriters of this transaction. Furthermore, Bank Nxt, Egyptian Arab Land Bank (EALB), and Export Development Bank of Egypt (EBank) subscribed to this issuance, demonstrating confidence in this offering. Dreny & Partners served as the legal advisor, while Russell Bedford acted as the official auditor for this transaction.

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