Dreny & Partners with Ollin on securitization deal
Dreny & Partners advised Global Corp for Consumer Finance and Mortgage – Ollin throughout a securitization transaction for their mortgage portfolio. The deal amounts to EGP 2.59 billion, and comes as part of a wider 3-year EGP 10 billion multi-issuances program.
The operation
A portfolio originated by the company itself backed the operation which featured 4 tranches, respectively valued at EGP 890 million, EGP 630 million, EGP 625 million, and EGP 445 million.
Al Ahly Pharos and Arab African International Bank participate to the deal as the financial advisors and lead arrangers, while Al Ahly Pharos, National Bank of Egypt, Arab African International Bank and Al Baraka Bank served as underwriters. Moreover, The Arab African International Bank worked as the custodian, while the National Bank of Egypt acted as the bookrunner. Baker Tilly (Hilal & Abdel Ghaffar) was the official auditor.
The Dreny & Partners team
Senior associate and head of capital market procedures team Nagy Mostafa Ebied led the Dreny & Partners team on the matter, working with associate Mohamed Youssef.
Moreover, the capital markets team included senior associate Metwally Sweify, associate Youssef Bayoumi, and junior associate Farah Younes.
