Corpleas plans largest private sector securitized bonds issuance

Corplease is planning 2.5 billion pounds securitized bonds issuance, in an offering that will set a new record as the largest private sector issuance in Egypt according to local press.

The source gave no timeline for the transaction, but said that Banque Misr investment arm Misr Capital is on board to act as lead manager.

Corplease, a subsidiary of CI Capital, is in talks with the Financial Regulatory Authority to greenlight the issuance, he said.

Corplease had issued a four-tranche 2.2 bn pounds bond issuance earlier this year in a sale that was also managed by Misr Capital.

Misr Capital parent company Banque Misr took a stake of more than 24 percent in CI Capital earlier this year, leading to speculation that Misr Capital and CI Capital could merge some of their operations.