Valu wraps up EGP 616.75M securitized bond issuance

Updated 5/20/2024 1:10:00 PM
Valu wraps up EGP 616.75M securitized bond issuance

Arab Finance: Valu has concluded its ninth securitized bond issuance worth EGP 616.75 million, as per an emailed press release on May 20th.

The issuance is part of the approved extended program valued at EGP 9 billion.

The bond offering is supported by a receivables portfolio assigned to EFG for Securitization.

It consists of two tranches with fixed interest rates, the first of which is worth EGP 370.05 million, with a tenor of 6 months and a Prime 1 (sf) rating.

Meanwhile, the second tranche is valued at EGP 246.7 million with a tenor of 12 months and a Prime 2(sf) rating.

EFG Hermes served as the sole financial advisor, transaction manager, bookrunner, underwriter, and arranger.

The Arab African International Bank (AAIB) acted as the underwriter and custodian bank, while the Arab Banking Cooperation (ABC) and Al Ahli Bank of Kuwait (ABK) were among the subscribers to the issuance.

Dreny & Partners served as the legal advisor, while Baker Tilly was the transaction’s auditor.

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