Valu closed a EGP 1.1 bn securitized bond issuance, the second under the company’s newly-approved EGP 10 bn securitization program — Valu’s fourth to date — according to an EGX disclosure (pdf).

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The details: This issuance featured two tranches with tenors ranging between 12 and 18 months, rated P1 and A-.

The fintech kicked off its new program in August with a EGP 460.7 mn issuance.

CONTACT FINANCE CLOSES EGP 1.3 BN ISSUANCE-

Contact Financial Holding closed a EGP 1.3 bn securitization issuance, the non-banking financial services player announced in a press release. The offering came in three tranches with tenors ranging from 13 to 60 months, rated AA+, AA, and A by Middle East Ratings and Investors Service (Meris). The bonds were issued by Contact’s Sarwa Securitization and backed by a Contact Credit portfolio.

Who bought in? Contact Financial Holding, CIB, Arab African International Bank, and CI Capital acted as the transaction’s underwriters. Bank ABC and several unnamed money market funds subscribed to the issuance.

ADVISORS- Contact Financial acted as the issuance manager and promoter. CIB served as the placement agent and custodian. Ali El Din Weshahy provided counsel, and KPMG was the auditor.

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