EFG Holding’s Valu issues EGP922.3m worth of securitised bonds

EFG Holding’s Valu has issued EGP922.3m worth of securitised bonds, the fintech firm’s sixth securitised bond issuance and part of a short-term programme that is backed by a receivables portfolio assigned to EFG Hermes’ financial group for securitisation – the issuance’s special purpose vehicle.

The securitisation is comprised of a singular trance with a 12-month bond and a Prime 1 rating. The issuance renews a short-term, EGP4bn securitisation programme that kicked off in November 2022.

“With the successful closure of our sixth securitisation in partnership with EFG Hermes, we are delighted to continue executing our strategic vision,” said Shokry Bidair, chief financial officer of Valu.

“This transaction is a pivotal step forward in our journey towards sustainable growth and enhancing our ability to provide our customers with an even broader array of innovative financial solutions.”

Bidair said by bolstering its liquidity position, the issuance aligns with Valu’s aspirations to further solidify the company’s position as a comprehensive lifestyle enabler, offering end-to-end fintech solutions.

The transaction marks Valu’s third issuance this year, and the sixth concluded in partnership with EFG Hermes to date.

“This securitisation transaction not only underscores our commitment to delivering innovative financial solutions but also highlights the robust collaboration between our teams,” said Maie Hamdy, managing director of debt Capital Markets at EFG Hermes.

EFG Hermes acted as the sole financial advisor and sole transaction manager and was joined by Arab African International Bank (AAIB) as lead arrangers and book-runners. AAIB also acted as the custodian bank on the issuance. KPMG was the financial auditor and ALC-Alieldean Weshahi & Partners acted as the legal advisor.

Valu’s new brand identity

Meanwhile, Valu has consistently pushed the boundaries of the market by introducing innovative and deeply integrated financial solutions over the years. The financial technology company implemented a strategic rebranding in August, marking a pivotal shift in its brand architecture.

Under the new brand identity, the platform has refreshed its logo, application and overall visual identity to represent the company in a more modern and dynamic way.

The new brand identity embodies the company’s core values of responsibility, innovation, prioritising people, and agility, while the revamped application offers an expanded range of services and solutions.

The application’s new design highlights the platform’s enhanced capabilities and investments in technologies through its ongoing commitment to innovation and to providing clients with access to financial solutions through a universal platform.

Read: EFG Hermes advises EMRC on EGP472m securitised bond issuance