In a strategic step that reinforces its leadership in the Egyptian auto-financing market, Drive Finance, a subsidiary of GB Capital, announced the signing of a 5-billion-EGP syndicated credit facility. The facility supports the company’s strategy to diversify its funding sources and strengthen future expansion plans. This agreement marks the first syndicated loan ever granted to a company in Egypt’s non-banking financial sector, further establishing Drive Finance as a leading player in the industry.
The new facility will support Drive Finance’s auto financing activities, particularly within its consumer finance and factoring portfolios. The company expects this financing package to boost its capacity to expand its customer base, widen its geographical footprint, and launch innovative financial solutions aligned with the evolving needs of the Egyptian market.
A Strategic Milestone for Drive Finance
Ahmed Ossama, Executive Managing Director of Drive Finance, stated that securing a 5-billion-EGP syndicated loan represents a key milestone that underscores the company’s strong performance and the confidence the banking sector places in its ability to sustain growth.
He highlighted that Drive Finance is the first company in the non-banking financial sector in Egypt to obtain a syndicated loan of this magnitude, reflecting its leadership and the high quality of its financing portfolio. Ossama also emphasized that Drive maintains one of the lowest default rates in the Egyptian market.
He added that the new syndicated facility will significantly enhance Drive Finance’s ability to deliver innovative financing solutions, meet customer expectations, and execute its ambitious expansion plans in the Egyptian automotive sector. The financing will also increase operational flexibility and unlock new growth opportunities by expanding the volume of financing directed toward the auto market.
Participating Banks and Advisors
The syndicated loan agreement was arranged with the participation of:
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National Bank of Egypt (NBE) – Initial Mandated Lead Arranger, Facility Agent, Security Agent, Documentary Agent
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Commercial International Bank (CIB) – Initial Mandated Lead Arranger and Structuring Bank
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Arab African International Bank – Initial Mandated Lead Arranger and Account Bank
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Banque du Caire – Lead Arranger
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Emirates NBD – Syndicate Lender
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Housing & Development Bank – Syndicate Lender
Legal counsel for the lenders was provided by Matouk Bassiouny & Hennawy, while Ashraf Ehab Law Firm served as legal advisor to Drive Finance.
