Valu, MENA’s leading universal financial technology powerhouse, announced the successful closing of its 13th securitized bond issuance worth EGP 519.2 million. The milestone marks a remarkable journey since Valu’s inception, with a cumulative total of over EGP 10.8 billion raised across all securitizations.
EFG Hermes, an EFG Holding company and the leading Investment Bank in the Middle East and North Africa (MENA), announced today that it has finalized the 12th securitized bond issuance worth EGP 667.3 million for Valu, MENA’s leading universal financial technology powerhouse. The issuance is the second under the newly approved securitization program, which is worth a total of EGP 16.0 billion.
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’s 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. The bond is backed by a receivables portfolio assigned to EFG for Securitization, the issuance’s special purpose vehicle (SPV), and is comprised of two tranches: • Tranche A – Valued at 676.98 million, with a 6-month bond tenor, a Prime 1 (sf) rating, and a fixed interest rate. • Tranche B – Valued at EGP 414.92 million, with a 12-month bond tenor, a Prime 2 (sf) rating, and a fixed interest rate. Shokry Bidair, CFO of Valu, commented, “Finalizing 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’s position as the leading fintech powerhouse in the region.” Valu 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. Maie Hamdy, Managing Director - Debt Capital Markets at EFG Hermes, added, “The 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. EFG 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. -ENDS- About Valu: Valu 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 – 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. For further information, please contact: May El Gammal Group Chief Marketing & Communications Officer of EFG Holding melgammal@valu.com.eg Omar Salama Senior Communications Manager of EFG Holding osalama@valu.com.eg Valu Public Relations Team Public_Relations@valu.com.eg Note on Forward-Looking Statements In this press release, Valu may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only Valu’s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s 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.
Valu, MENA’s 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.
Valu, MENA’s leading universal financial technology powerhouse, announced today that it has closed its 10th securitized bond issuance worth EGP 1.2 billion. The issuance is part of the approved extended securitization program worth EGP 9.0 billion.
Valu, MENA’s leading universal financial technology powerhouse, announced today that it has closed its eighth securitized bond issuance worth EGP 888 million. The issuance is part of the approved extended program worth EGP 9.0 billion
EFG Hermes, the leading investment bank franchise in Frontier and Emerging Markets (FEM), announced today the successful conclusion of EFG Holding’s wholly-owned subsidiary, EFG Corp-Solutions' third issuance of a securitization bond worth EGP 1.0 billion. This milestone marks a significant expansion of EFG Corp-Solutions' securitization program, which has now increased its value from EGP 3.0 billion to EGP 6.0 billion. The bond is backed by a receivables portfolio assigned to EFG Securitization as the issuance’s special purpose vehicle (SPV).
Valu, MENA’s leading universal financial technology powerhouse, announced today that it has closed its sixth securitized bond issuance. The EGP 922.3 million issuance is part of a short-term program that has been renewed and is backed by a receivables portfolio assigned to EFG Hermes’ Financial Group for Securitization, the issuance’s Special Purpose Vehicle (SPV). The securitization is comprised of a singular trance with a 12-month bond tenor valued at EGP 922.3 million and a Prime 1 (sf) rating.
valU, MENA’s leading lifestyle-enabling fintech platform, announced today that it has closed its fifth securitized bond issuance. The EGP 1.42 billion issuance is part of a newly approved EGP 4.0 billion program.
EFG Hermes, the leading investment bank franchise in Frontier and Emerging Markets (FEM), announced today that its investment banking division successfully closed valU’s — MENA’s leading lifestyle enabling fintech platform — fourth securitized bond issuance. The transaction, worth EGP 856.5 million, comes as part of a wider approved and recently extended EGP 4.0 billion program.
We use cookies to collect information about how you use our website. And we use the information derived from such cookies to ensure the functionality of our website and to enhance our services.
