Arab Finance: U Consumer Finance (valU), an arm of EFG Holding, has completed its 18th securitized bond issuance at a value of EGP 1.096 billion, as per a disclosure.
The issuance was carried out in collaboration with EFG Hermes, the MENA's leading investment bank and a subsidiary of EFG Holding.
This transaction marks valU’s second issuance under its fifth securitization program.
The bonds were offered in two tranches, with tranche A worth EGP 767.13 million, carrying a 12-month maturity, and received a Prime 1 (sf) rating with a fixed return.
Meanwhile, tranche B, valued at EGP 328.77 billion, has an 18-month maturity and received an A (sf) rating, also with a fixed return.