Valu Closes Ninth Securitized Bond Issuance at LE 616.75 Million

Valu, a fintech firm based in Egypt, announced the closing of its ninth securitized bond issuance, valued at LE 616.75 million. This bond is part of an approved LE 9 billion securitization program.

The issuance, backed by a receivables portfolio assigned to EFG Hermes for Securitization, consists of two tranches: Tranche A, valued at LE 370.05 million with a 6-month tenor and a Prime 1 (sf) rating, and Tranche B, valued at LE 246.7 million with a 12-month tenor and a Prime 2 (sf) rating, both featuring fixed interest rates.

"We are thrilled to announce the successful completion of our ninth securitized bond offering in partnership with EFG Hermes. This latest milestone in our journey is a testament to our unwavering commitment towards driving sustainable financial growth and catering to the evolving needs of our clients,” Shokry Bidair, CFO of Valu, tells StartupScene. “The issuance not only strengthens our financial position but also paves the way for us to explore new and innovative opportunities to access the Egyptian debt capital market. This achievement reaffirms our position as a leading financial technology powerhouse and reinforces our commitment towards delivering top-notch financial solutions to our clients."

EFG Hermes played multiple roles in the transaction, including financial advisor and underwriter, while Arab African International Bank also participated as an underwriter and custodian bank. The issuance was subscribed by Arab Banking Corporation and Al Ahli Bank of Kuwait, with legal counsel from Dreny & Partners and auditing by Baker Tilly.