Cairo – Mubasher: Corplease Financial Leasing, a subsidiary of CI Capital Holding for Financial Investments, has successfully finalised its eighth securitisation bond issuance worth EGP 2.2 billion.

The proceeds will be used to reduce leverage and enhance the subsidiary’s equity base to spur future growth, according to a bourse statement on Tuesday.

Moreover, the securitisation bond is issued over four tranches with tenors of 13, 37, 61, and 84 months. The offering is backed by higher results in 2019 from new leasing bookings totalling EGP 4.6 billion.   

The subsidiary conducts securitisation on a regular basis as part of its leasing portfolio as an alternative source of long-term financing for the company.

It is worth pinpointing that over the January-September period of 2019, CI Capital reported net profits of EGP 381.07 million from EGP 300.95 million in the year-ago period.