Valu closes EGP 463.3M securitized bond issuance
Updated 3/2/2025 11:55:00 AM
Arab Finance: Valu has concluded its 14th securitized bond issuance at a value of EGP 463.3 million, according to an emailed press release.
This marks the fourth issuance under a newly approved EGP 16 billion securitization program. The bond issuance holds a 12-month tenor, with a Prime 1 (sf) rating and a fixed interest rate.
The offering is backed by a receivables portfolio assigned to EFG for Securitization, which served as the special purpose vehicle (SPV) for the issuance.
EFG Hermes, an EFG Holding company, acted as the sole financial advisor, transaction manager, bookrunner, underwriter, and arranger on the issuance.
Suez Canal Bank served as the issuance's underwriter and placement agent, while Arab African International Bank (AAIB) acted as the custodian bank.
Dreny & Partners was the legal advisor, whereas Baker Tilly was the auditor.
Shokry Bidair, CFO of Valu, commented: “This issuance marks another milestone in our strategic partnership with EFG Hermes as we continue to strengthen our capital structure and fuel our expansion plans.”
“Accessing diversified funding avenues through securitization enables us to further scale our offerings, deliver cutting-edge solutions to our customers, and sustain our leadership position in the fintech space,” Bidair added.
Maie Hamdy, Managing Director - Debt Capital Markets at EFG Hermes, said: “Building on the momentum from last year, where we successfully closed Valu’s 8th to 13th securitizations, this first issuance of 2025 reaffirms our strong track record in executing complex transactions that cater to our clients' evolving needs.”
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