Valu, MENA’s leading universal financial technology powerhouse, announced today the successful closing of its 17th securitized bond issuance, valued at EGP 460.7 million, with EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA). The issuance is the first under the newly approved EGP 10 billion securitization program.
The bond is backed by a receivables portfolio assigned to EFG for Securitization, which acts as the special purpose vehicle (SPV) for the issuance. It is a 12-month bond, rated Prime 1 (sf).
Karim Riad, CFO of Valu, commented, “This issuance marks a pivotal milestone in our ongoing strategy to diversify our funding base and strengthen our capital structure. Launching the first transaction under our newly approved EGP 10 billion program reflects our confidence in the market and our commitment to scaling responsibly. Coming on the heels of our successful listing on the Egyptian Exchange, this transaction further demonstrates our ability to access diverse capital markets and reinforces our position as a leading force in Egypt’s fintech ecosystem.”
Maie Hamdy, Managing Director – Debt Capital Markets at EFG Hermes, added, “We are delighted to support Valu in this landmark issuance, which comes on the back of their successful listing on the Egyptian Exchange, a clear signal of investor confidence in the company’s vision and performance. Our longstanding partnership with Valu is built on a shared vision of innovation and financial inclusion, and this transaction is a testament to our ability to structure and execute complex deals that meet the evolving needs of high-growth companies. We look forward to continuing to empower fintech leaders like Valu as they scale their impact across the region.”
EFG Hermes acted as sole financial advisor, transaction manager, bookrunner, underwriter, and arranger on the issuance. Arab African International Bank (AAIB) served as underwriter and custodian. The issuance was also subscribed to by the Industrial Development Bank of Egypt (IDBE), Arab Banking Corporation (ABC), and Attijariwafa Bank. Dreny & Partners acted as legal advisor, and Baker Tilly as auditor.
