Valu closed an EGP 735 mn securitized bond issuance, marking the third sale under its fifth securitization program, it said in a statement (pdf). The firm last tapped the debt market last month with an EGP 1.1 bn sale under the same program, which it kicked off in August with an EGP 460.7 mn issuance.

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The details: The issuance is backed by a receivables portfolio assigned to EFG for Securitization, which acted as the SPV. It came in two fixed-rate tranches, a 12-month tranche rated P1 and a 17-month tranche rated A-.

ADVISORS- Our friends at EFG Hermes acted as the sole financial advisor, transaction manager, bookrunner, underwriter, and arranger, while Arab African International Bank served as an underwriter and custodian. Dreny & Partners provided counsel, and Baker Tilly served as the auditor.

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