Arab Finance: The investment banking division of EFG Hermes has concluded valU’s fourth securitized bond issuance worth EGP 856.5 million, according to an emailed press release on March 21^st.

This comes as part of a wider issuance program at a total value of EGP 4 billion.

The issuance is backed by a receivables portfolio, assigned to EFG Hermes for Securitization, the issuance’s Special Purpose Vehicle (SPV).

The bond is comprised of a single tranche, with a Prime 1 (structured finance) rating and a 12-month tenor.

EFG Hermes acted as sole financial advisor, sole transaction manager and book-runner, underwriter, and arranger on the transaction.

Meanwhile, Arab African International Bank (AAIB) acted as an underwriter, while Arab Banking Cooperation (ABC) and aiBANK were subscribers, with AAIB serving as custodian bank on the issuance.

KPMG was the auditor and Arab Legal Consultants was the legal advisor.