Valu Closes its 11th Securitized Bond Issuance Worth EGP 1,091.9 Million
\nThe issuance is the first under the newly approved EGP 16.0 billion securitization program and comes after the most recent EGP 1.2 bn securitization, which closed in June.
\nCairo, August 26, 2024
\nValu, MENA\u2019s leading universal financial technology powerhouse, announced today that it has finalized its 11th securitized bond issuance worth EGP 1,091.9 million. The issuance is the first under the newly approved securitization program worth a total of EGP 16 billion.
\nThe bond is backed by a receivables portfolio assigned to EFG for Securitization, the issuance\u2019s special purpose vehicle (SPV), and is comprised of two tranches:
\nTranche A \u2013 Valued at 676.98 million, with a 6-month bond tenor, a Prime 1 (sf) rating, and a fixed interest rate.
\nTranche B \u2013 Valued at EGP 414.92 million, with a 12-month bond tenor, a Prime 2 (sf) rating, and a fixed interest rate.
\nShokry Bidair, CFO of Valu, commented, \u201cFinalizing this bond marks a pivotal moment for Valu as we embark on the first issuance under our newly approved EGP 16 billion securitization program. 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\u2019s position as the leading fintech powerhouse in the region.\u201d
\nValu is revolutionizing the financial landscape in Egypt with its cutting-edge offerings that cater to the needs of millions of consumers. The company’s flagship BNPL platform ‘U’, along with a diverse basket of investment products, such as the AZ Valu fund and EFG Hermes ONE, are empowering customers to achieve their financial goals with ease. Valu continues to innovate by introducing new solutions that meet its customers’ evolving needs. From the instant cash redemption program Sha2labaz to the convenient savings solution Akeed and the luxury financing program Ulter, Valu is committed to providing comprehensive financial services tailored to enhance the customer experience. Valu recently launched a co-branded credit card and prepaid card in partnership with Visa as a means of expanding its range of offerings to provide greater financial flexibility and convenience for its customers.<\/p>\n
Maie Hamdy, Managing Director – Debt Capital Markets at EFG Hermes, added, \u201cThe successful finalization of Valu’s 11th securitized bond issuance under the newly approved program is a testament to the continued strength of the partnership between EFG Hermes and Valu. Our shared commitment to innovation and financial inclusion is unwavering. EFG Hermes is proud to support initiatives that fuel economic growth and create impactful opportunities. We remain dedicated to working alongside Valu as it continues to lead and expand the fintech landscape.
\nEFG Hermes was the sole financial advisor, transaction manager, bookrunner, underwriter, and arranger on the issuance. Arab African International Bank (AAIB) acted as the issuance’s underwriter and custodian bank. Arab Banking Cooperation (ABC) and others were the subscribers to the issuance. Dreny & Partners was the legal advisor, and Baker Tilly was the auditor.
\n-ENDS-
\nAbout Valu:
\nValu is the leading universal financial technology powerhouse offering customers and businesses convenient and comprehensive financial solutions. Under its product universe, Valu pioneered Buy-Now, Pay-Later (BNPL) solutions in the MENA region through U, providing customizable financing plans for up to 60 months across more than 6,500 points of sale and over 2,000 websites and apps \u2013 covering a diverse array of categories, including home appliances, electronics, home finishing, furniture, residential solar solutions, healthcare, education, travel, and fashion, among others. Valu also offers investment products, an instant cash redemption program, savings solutions, and a financing solution to facilitate the purchase of big-ticket items up to EGP 15 million in the luxury space through the AZ Valu fund and EFG Hermes ONE, Sha2labaz, Akeed, and Ulter respectively. In addition, Valu offers business-to-business solutions through Valu Business. Valu had recently introduced its prepaid card and co-branded credit card in collaboration with Visa. As an award-winning fintech player in the MENA region, Valu embraces a progressive mindset with an agile workforce committed to architecting innovative financial solutions.
\nFor further information, please contact:
\nMay El Gammal
\nGroup Chief Marketing & Communications Officer of EFG Holding
\nmelgammal@valu.com.eg
\nOmar Salama
\nSenior Communications Manager of EFG Holding
\nosalama@valu.com.eg
\nValu Public Relations Team
\nPublic_Relations@valu.com.eg
\nNote on Forward-Looking Statements
\nIn this press release, Valu may make forward-looking statements, including, for example, statements about management\u2019s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only Valu\u2019s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management\u2019s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations, and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.<\/p>\n","protected":false},"excerpt":{"rendered":"
Valu Closes its 11th Securitized Bond Issuance Worth EGP 1,091.9 Million The issuance is the first under the newly approved EGP 16.0 billion securitization program and comes after the most recent EGP 1.2 bn securitization, which closed in June. Cairo, August 26, 2024 Valu, MENA\u2019s leading universal financial technology powerhouse, announced today that it has …<\/p>\n","protected":false},"author":31,"featured_media":33088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-33087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/akhber-alwatan.com\/index.php?rest_route=\/wp\/v2\/posts\/33087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/akhber-alwatan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/akhber-alwatan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/akhber-alwatan.com\/index.php?rest_route=\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/akhber-alwatan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33087"}],"version-history":[{"count":1,"href":"https:\/\/akhber-alwatan.com\/index.php?rest_route=\/wp\/v2\/posts\/33087\/revisions"}],"predecessor-version":[{"id":33089,"href":"https:\/\/akhber-alwatan.com\/index.php?rest_route=\/wp\/v2\/posts\/33087\/revisions\/33089"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/akhber-alwatan.com\/index.php?rest_route=\/wp\/v2\/media\/33088"}],"wp:attachment":[{"href":"https:\/\/akhber-alwatan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/akhber-alwatan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/akhber-alwatan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}