{"id":583932,"date":"2023-03-22T00:00:00","date_gmt":"2023-03-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/22\/valu-issues-egp-856-5-mn-in-securitized-bonds\/"},"modified":"2023-03-22T00:00:00","modified_gmt":"2023-03-22T00:00:00","slug":"valu-issues-egp-856-5-mn-in-securitized-bonds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/22\/valu-issues-egp-856-5-mn-in-securitized-bonds\/","title":{"rendered":"valU issues EGP 856.5 mn in securitized bonds"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">valU closes fourth securitized bond <\/span><span style=\"font-weight:700\">issuance<\/span><span style=\"font-weight:700\">:<\/span><span style=\"\">EFG Hermes Holding\u2019s<\/span><span>consumer finance arm valU has issued EGP 856.5 mn worth of securitized bonds, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/EFG-Hermes-x-valU-Fourth-Securitization-Issuance-English.pdf\" style=\"\">statement (pdf)<\/a><\/span><span style=\"font-weight:400;\">. The issuance consists of a single tranche of 12-month bonds backed by a receivables portfolio. The bonds earned a \u201cprime-1\u201d rating.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">valU now has a bigger securitization program:<\/span><span style=\"\"> The consumer finance player has doubled the <\/span><span>size of the program to EGP 4 bn. The latest issuance means valU has completed around two-thirds of the program, which <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d2379b41-d12e-41da-a8aa-0971bc8b04e1\" style=\"\">kicked off<\/a><\/span><span> in <\/span><span>September 2021<\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">There\u2019s more in the pipeline: <\/span><span style=\"\">valU is studying a second securitization program worth EGP 5 <\/span><span>bn which it hopes to start later this year, CEO Walid Hassouna <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c21a385c-7d70-43ba-a680-2d1cc8ccf4bb\" style=\"\">told us<\/a><\/span><span> in <\/span><span>January<\/span><span style=\"font-weight:400;\">. It is looking to raise EGP 4.5 bn from issuances this year \u2014 including EGP 1.1 bn worth of bonds during 1Q 2023 and three more issuances of around EGP 1.1 bn before the end of the year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Advisors:<\/span><span style=\"\"> EFG Hermes acted as the sole financial advisor, transaction manager, and <\/span><span>book-runner on the issuance, according to the statement. It was also <\/span><span>arranger<\/span><span> and underwriter. Arab African International Bank (AAIB) acted as an underwriter and custodian, while <\/span><span style=\"\">Arab Banking Corporation (ABC) and aiBank also subscribed to the issuance. <\/span><span style=\"font-weight:400;\">KPMG was the auditor, and ALC Alieldean Weshahi & Partners was legal advisor. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2023 so far:<\/span><span style=\"\"> The latest issuance takes the total value of asset-backed securities issued<\/span><span style=\"\"> this <\/span><span>year to <\/span><span>EGP 10.4 bn<\/span><span>. T<\/span><span>his is 5% higher than the <\/span><span>same period in 2022.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Total value of securitized debt taken to market is up 5% y-o-y so far this year<\/p>\n","protected":false},"author":1,"featured_media":583933,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7274],"tags":[430,514,88,84,72,595,85,515],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-583932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-arab-african-international-bank","tag-consumer-finance","tag-debt-watch","tag-efg-hermes","tag-enterpriseam","tag-non-banking-financial-services","tag-securitization","tag-valu","wpautop","entry"],"acf":{"mongo_id":"bea9a220-6627-4e5a-b0ac-62f4578808fe","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/3\/335.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Egyptian consumer finance player valU closes fourth securitized bond issuance","related_issue":[583923],"teaser":"Total value of securitized debt taken to market is up 5% y-o-y so far this year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.f141a0f6-991c-4bd2-b01f-c9202afa7777.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The single 12-month tranche is the third in valU\u2019s EGP 2 bn maiden securitization program and holds a Prime-1\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/253.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548707,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/18\/valu-closes-its-second-securitized-bond-issuance\/","url_meta":{"origin":583932,"position":2},"title":"valU closes its second securitized bond issuance","author":"enterpriseam admin","date":"18 August 2022","format":false,"excerpt":"valU just closed its second securitized bond issuance in less than a year: EFG Hermes\u2019 consumer finance arm valU has issued EGP 532.6 mn of securitized bonds, according to a statement (pdf) by our friends at EFG Hermes.About the issuance: The two 12-month tranches are backed by an EGP 609.1\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/312.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564279,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/valu-plans-maiden-securitized-bond-offering\/","url_meta":{"origin":583932,"position":3},"title":"Valu plans maiden securitized bond offering","author":"enterpriseam admin","date":"22 August 2021","format":false,"excerpt":"Valu is getting into securitization: EFG Hermes subsidiary Valu is planning a maiden securitized bond issuance worth EGP 2 bn, EFG Hermes Finance CEO Walid Hassouna told Al Mal TV (watch,runtime1:06:43). The consumer finance lender could kick start the program before the end of the year with a EGP 300\u2026","rel":"","context":"In &quot;SPEED ROUND: DEBT WATCH&quot;","block_context":{"text":"SPEED ROUND: DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/492.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557305,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/valu-kicks-off-egp-2-bn-securitization-program-fawry-eyes-consumer-finance-space\/","url_meta":{"origin":583932,"position":4},"title":"Valu kicks off EGP 2 bn securitization program + Fawry eyes consumer finance space","author":"enterpriseam admin","date":"14 September 2021","format":false,"excerpt":"EFG Hermes\u2019 consumer finance subsidiary Valu has kicked off its EGP 2 bnsecuritization program with a EGP 323 mn bond issuance, according to astatement (pdf) yesterday from the financial services corporation, whose advisory arm managed the issuance. The security is backed by a EGP 369 mn receivable portfolio, and was\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/185.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546737,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/26\/valu-to-sell-egp-700-mn-of-securitized-bonds-in-2q-2022\/","url_meta":{"origin":583932,"position":5},"title":"valU to sell EGP 700 mn of securitized bonds in 2Q 2022","author":"enterpriseam admin","date":"26 May 2022","format":false,"excerpt":"valU is planning to issue EGP 700 mn in securitized bonds in a single tranche in 2Q 2022 as part of its EGP 2 bn securitization program, CEO Walid Hassouna told us. This is EGP 200 mn more than previously reported. The company kicked off the program in September with\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/583932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=583932"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/583932\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/583923"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/583933"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=583932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=583932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=583932"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=583932"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=583932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}