{"id":588957,"date":"2023-06-19T00:00:00","date_gmt":"2023-06-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/19\/this-evening-valu-takes-egp-1-42-bn-securitized-bond-issuance-to-market\/"},"modified":"2023-06-19T00:00:00","modified_gmt":"2023-06-19T00:00:00","slug":"this-evening-valu-takes-egp-1-42-bn-securitized-bond-issuance-to-market","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/19\/this-evening-valu-takes-egp-1-42-bn-securitized-bond-issuance-to-market\/","title":{"rendered":"THIS EVENING: valU takes EGP 1.42 bn securitized bond issuance to market"},"content":{"rendered":"

Good afternoon, friends.<\/span> Our eyes are peeled for any official confirmation of which days will be<\/span> off next week to mark the Eid Al Adha holiday. Dar Al Ifta confirmed yesterday that the first day of Eid is next Wednesday, 28 June, which means that the Wa\u2019fa \u2014 which is also given as a day off \u2014 will fall on Tuesday. <\/span><\/p>\n

PSA from the taxman:<\/span> Property owners have until 30 June <\/span>to pay the first<\/span> installment of their annual property tax, the Real Estate Tax Authority said, according to <\/span>a Finance Ministry statement<\/a><\/span>. The second installment can be paid anytime between July to December. <\/span><\/p>\n

Who can apply for exemptions:<\/span> Owners of properties that have been demolished or damaged, and owners of properties worth less than EGP 2 mn that are used as their primary family residences, the statement reads. The poultry sector is also exempt from paying property tax for three years starting January 2022 until December 2024, according to the statement.<\/span><\/p>\n

THE BIG STORY TODAY<\/span><\/p>\n

<\/span> valU kicks off EGP 4 bn securitization program: <\/span>Consumer finance platform valU has <\/span>issued EGP 1.42 bn worth of securitized bonds, its first issuance part of a new EGP 4 bn securitization program, according to a <\/span>statement (pdf)<\/a><\/span>. The two-tranche issuance has tenors of 12 and 36 months and respective ratings of Prime-1 and A from Middle East Rating Services (MERIS).<\/span><\/p>\n

THE BIG STORY ABROAD<\/span><\/p>\n

US-China show \u201cprogress\u201d in stabilization relations: <\/span>Chinese President Xi Jinping commends the \u201cprogress\u201d achieved during a meeting with US Secretary of State Antony Blinken <\/span>earlier today, which aimed to address various disputes between the US and China and prevent any further escalation. The issues range from Taiwan, trade, human rights, and the role of fentanyl precursors in the US opioid crisis. The meeting also served as a potential stepping stone for a future summit between President Xi and US President Joe Biden later this year. (<\/span>Reuters<\/a><\/span> | <\/span>The Washington Post<\/a><\/span> | <\/span>Financial Times<\/a><\/span> | <\/span>The Guardian<\/a><\/span> | <\/span>The New York Times<\/a><\/span>)<\/span><\/p>\n

<\/p>\n

The Enterprise Finance Forum is our flagship gathering \u2014 the one so many of you have <\/span>been waiting for. <\/span>The two-day event takes place this September and will be the latest in our must-attend series of invitation-only, C-suite-level gatherings. Stay tuned for more information on the location. <\/span><\/p>\n

TAP OR CLICK <\/span>HERE<\/a><\/span> if you want to express interest in attending. <\/span>We\u2019ll be sending out the first batch of invitations just after the 30 June holiday. <\/span><\/p>\n

Do you want to become a commercial partner? <\/span>Email mtaalab@enterpriseadvisory.com.<\/span><\/p>\n

STAY TUNED for more detail <\/span>about our exciting agenda in the weeks to come. <\/p>\n

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** CATCH UP QUICK<\/span> on the top stories from today\u2019s <\/span>EnterpriseAM<\/span>:<\/span><\/p>\n