Cairo – Mubasher: MENA's leading fintech powerhouse Valu has finalised its 11th securitised bond issuance worth EGP 1.09 billion, according to a press release.
The issuance marks the first under the newly approved securitisation programme valued at EGP 16 billion.
Backed by a receivables portfolio assigned to EFG for Securitization, the issuance’s special purpose vehicle (SPV) covers two tranches.
Tranche A was valued at EGP 676.98 million, holding a six-month bond tenor. Tranche B stood at EGP 414.92 million and carried a 12-month bond tenor.
Shokry Bidair, CFO of Valu, commented: “This achievement strengthens our financial standing while reaffirming our commitment to delivering innovative and accessible financial solutions across the region.”
“We aim to reinforce our ability to meet the evolving needs of our clients while further solidifying Valu’s position as the leading fintech powerhouse in the region,” Bidair added.
Maie Hamdy, Managing Director - Debt Capital Markets at EFG Hermes, added: “We remain dedicated to working alongside Valu as it continues to lead and expand the fintech landscape.”
EFG Hermes, a subsidiary of EFG Holding, was the sole financial advisor, transaction manager, bookrunner, underwriter, and arranger.
Arab African International Bank (AAIB) also acted as the issuance's underwriter and custodian bank.
Furthermore, Arab Banking Cooperation (ABC) and Al Ahli Bank of Kuwait (ABK) were among the subscribers to the issuance.
In May, Valu offered securitised bond issuance at an amount of EGP 616.75 million in line with its extended EGP 9 billion programme.
