Ollin Mortgage Finance Closes Egypt's Largest Mortgage Securitization Deal

Mohamed Abdelwahab, Executive Director of Mortgage Finance at Ollin

GlobalCorp subsidiary Ollin Mortgage Finance has finalized its second mortgage securitization bond issuance valued at EGP 3.31 billion (approximately US$67 million), following approval from Egypt’s Financial Regulatory Authority (FRA).

The issuance was completed under Ollin’s third securitization program and structured into three tranches targeting different investor risk profiles. The transaction marks a significant milestone for Egypt’s structured finance market, with CEO Mohammed Abdelwahab describing it as the country’s largest mortgage securitization issuance to date.

The company has now completed two securitization issuances totaling EGP 5.9 billion within just eight months, underscoring accelerating momentum in Egypt’s non-bank financial sector.

What Were the Key Details of the EGP 3.31 Billion Issuance?

The bond issuance was divided into three tranches, each carrying different maturities and credit ratings assigned by Middle East Ratings and Investor Services (MERIS).

Tranche	Value	Tenor	Credit Rating
First Tranche	EGP 1.6 billion	25 months	AA+
Second Tranche	EGP 955 million	37 months	AA
Third Tranche	EGP 775 million	49 months	A-

The structure was designed to attract a broad institutional investor base by balancing duration and risk exposure across multiple fixed-income segments.

Why Is Egypt’s Securitization Market Growing in 2026?

Egypt’s securitization market has expanded steadily as financial institutions seek alternative funding channels amid rising demand for mortgage finance, leasing, and consumer credit products.

Several factors are driving growth:

• Increased institutional appetite for fixed-income instruments
• Expanding mortgage and consumer finance activity
• Regulatory support from the FRA
• Greater participation from local and regional banks
• Rising sophistication in Egypt’s capital markets

The transaction also reflects broader regional trends across MENA, where financial hubs such as ADGM and Hub71 continue supporting financial innovation, structured products, and capital market development.

Which Financial Institutions Participated in the Deal?

The issuance was structured and managed by a consortium of Egypt’s leading financial institutions.

Lead Advisors and Bookrunners

• Arab African International Bank
• Commercial International Bank (CIB)
• Al Ahly Pharos
• AlBaraka Capital

The National Bank of Egypt acted as the subscription receiving bank, while Arab African International Bank also served as custodian for the transaction.

Participating Banks

Subscription demand came from several banking institutions, including:

• Commercial International Bank
• Al Baraka Bank Egypt
• Housing and Development Bank
• Al Ahli Bank of Kuwait – Egypt
• Arab Banking Corporation – Egypt

According to the company, the issuance attracted strong institutional demand, signaling growing investor confidence in securitized debt instruments and GlobalCorp’s balance sheet strength.

Who Owns GlobalCorp?

Founded in 2015, GlobalCorp operates across multiple non-bank financial segments, including:

• Leasing
• Factoring
• Securitization
• Consumer finance
• Mortgage finance

The company’s shareholder base includes:

• Amethis
• European Bank for Reconstruction and Development (EBRD)
• SPE Capital
• Founder and CEO Hatem Samir

The presence of institutional investors such as EBRD reflects continued international interest in Egypt’s financial services and private credit sectors.

 

 

 

 

FAQ

1. What is mortgage securitization?
Mortgage securitization is the process of pooling mortgage assets and converting them into tradable fixed-income securities sold to institutional investors.

2. How much was Ollin Mortgage Finance’s 2026 issuance worth?
The issuance was valued at EGP 3.31 billion, making it the largest mortgage securitization transaction in Egypt to date.

3. Who regulated the securitization issuance?
The transaction was approved by Egypt’s Financial Regulatory Authority (FRA).

4. Why are securitization deals growing in Egypt?
Growth is being driven by rising demand for alternative financing, expanding non-bank financial services, and increased institutional investor participation.

5. Who are GlobalCorp’s major shareholders?
GlobalCorp’s shareholders include Amethis, the European Bank for Reconstruction and Development (EBRD), SPE Capital, and founder Hatem Samir.