Egypt's current account gap narrows, but overall BoP records deficit    Egypt's PM reviews debt reduction strategy, eyes more private investment    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt, India discuss expanding industrial, investment partnerships    World Bank proposes Egypt join new global health initiative    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi sends letter to Nigerian president affirming strategic ties    Egypt welcomes 25-nation statement urging end to Gaza war    Egypt, Senegal sign pharma MoU to unify regulatory standards    Egyptian pound ticks down in early Tuesday trading    Famine kills more Gaza children as Israel tightens siege amid global outrage    Kuwait's Crown Prince, Egyptian minister discuss strengthening cooperation    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Egypt's FM seeks deeper economic, security ties on five-nation West Africa tour    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt, Somalia discuss closer environmental cooperation    Egypt exports 175K tons of food in one week    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, Uruguay eager to expand trade across key sectors    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Valu completes eighth securitization with EGP 888m bond offering
Published in Daily News Egypt on 25 - 03 - 2024

Valu, a leading force in MENA's financial technology sector, has completed its eighth securitized bond issuance, valued at EGP 888m. This issuance contributes to the company's extensive programme, which is authorized up to EGP 9bn.
The bond, supported by a receivables portfolio managed by EFG for Securitization (the special purpose vehicle for the issuance), consists of two segments:
* Tranche A: Worth EGP 639.4m, featuring a six-month tenor, a Prime 1 (sf) rating, and a fixed interest rate.
* Tranche B: Valued at EGP 248.6m, with a twelve-month tenor, a Prime 2 (sf) rating, and a fixed interest rate.
Shokry Bidair, CFO of Valu, expressed enthusiasm about the new bond offering, marking a significant achievement in Valu's strategic development. "This eighth securitization, realized through our collaboration with EFG Hermes, propels us toward sustained growth and diversification of our financial services. It's a testament to our past achievements and paves the way for innovative approaches to the debt capital market, aligning with our ambitious growth plans. This move fortifies our financial foundation, reinforcing Valu's position as a top-tier fintech entity, committed to delivering bespoke financial solutions that evolve with our customer's needs."
Valu is transforming Egypt's financial scene, touching millions of lives with its advanced services. The company's premier BNPL platform 'U', along with a suite of investment products like the AZ Valu fund and EFG Hermes ONE, empowers clients to realize their financial aspirations effortlessly. Valu consistently introduces groundbreaking solutions, such as the instant cash redemption program Sha2labaz, the convenient savings option Akeed, and the luxury financing initiative Ulter. Valu's recent launch of a co-branded credit and prepaid card, in collaboration with Visa, broadens its spectrum of services, enhancing financial flexibility and convenience for its clientele.
Maie Hamdy, Managing Director of Debt Capital Markets at EFG Hermes, reflected on the deal: "It's a privilege to contribute to Valu's ongoing narrative of success. This transaction highlights our commitment to innovative finance and the synergy between EFG Holding's teams. We're excited to support Valu's impressive growth and look forward to the vast prospects our partnership holds."
EFG Hermes functioned as the exclusive financial advisor and transaction manager for the issuance. Alongside EFG Hermes, Arab African International Bank (AAIB) served as an underwriter and custodian bank. Subscribers to the issuance included Arab Banking Corporation (ABC) and Al Ahli Bank of Kuwait (ABK). Legal counsel was provided by Dreny & Partners, while Baker Tilly undertook the role of auditor for the transaction.


Clic here to read the story from its source.