Arab Finance: Valu has concluded its sixth securitized bond issuance worth EGP 922.3 million via EFG Hermes’ Financial Group for Securitization, as per an emailed press release on September 17^th.

The issuance is part of a short-term program, supported by a receivables portfolio assigned to EFG Holding’s Financial Group for Securitization, that has been renewed.

This transaction marks the company’s third issuance in 2023 and the sixth to be closed in partnership with EFG Hermes to date.

The bond was offered in one tranche with a tenor of 12 months and a rating of Prime 1 (sf).

EFG Holding served as the sole financial advisor, sole transaction manager, and book-runner, whereas EFG Hermes and the Arab African International Bank (AAIB) acted as lead arrangers, book-runners, and underwriters.

AAIB also acted as the custodian bank on the issuance, while the Arab Banking Cooperation (ABC), aiBANK, Attijariwafa Bank, and Banque Misr were subscribers to the issuance.

KPMG was the financial auditor and ALC-Alieldean Weshahi & Partners served as the legal advisor.

“This transaction is a pivotal step forward in our journey towards sustainable growth and enhancing our ability to provide our customers with an even broader array of innovative financial solutions,” CFO of Valu Shokry Bidair commented.

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