Valu, MENA’s leading universal financial technology powerhouse, announced today that it has finalized its 15th securitized bond issuance, worth EGP 1.036 billion, with EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), this brings Valu’s total securitizations value to EGP 12.3 billion. The issuance is the fifth under the newly approved securitization program, which is worth a total of EGP 16.0 billion.
The bond is backed by a receivables portfolio assigned to EFG for Securitization, the issuance’s special purpose vehicle (SPV), with a 10-month bond, a Prime 1 (sf) rating, and a fixed interest rate.
Karim Riad, CFO of Valu, commented, “This transaction is a testament to our long-standing and strategic partnership with EFG Hermes. As we continue to scale and diversify our operations, securitization remains a vital component of our funding strategy, enabling us to deliver more innovative financial solutions and reach wider segments of consumers in Egypt and beyond.”
Maie Hamdy, Managing Director – Debt Capital Markets at EFG Hermes, added, “Our fifth issuance under Valu’s EGP 16 billion program reflects the deep trust and consistent collaboration between both institutions. This deal highlights our unmatched structuring capabilities and our ability to tailor complex capital market transactions to support the high growth trajectory of fintech pioneers like Valu.”
EFG Hermes served as the sole financial advisor, transaction manager, bookrunner, underwriter, and arranger on the issuance. Arab African International Bank (AAIB) acted as the underwriter and custodian bank. Dreny & Partners was the legal advisor, and Baker Tilly was the auditor.
