{"id":617563,"date":"2024-03-24T00:00:00","date_gmt":"2024-03-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/24\/this-evening-valu-closes-egp-888-mn-securitized-bond-issuance\/"},"modified":"2024-03-24T00:00:00","modified_gmt":"2024-03-24T00:00:00","slug":"this-evening-valu-closes-egp-888-mn-securitized-bond-issuance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/24\/this-evening-valu-closes-egp-888-mn-securitized-bond-issuance\/","title":{"rendered":"THIS EVENING: Valu closes EGP 888 mn securitized bond issuance"},"content":{"rendered":"

Good afternoon, ladies and gentlemen,<\/strong> and welcome to a very rainy start to the business week here in Om El Donia. <\/p>\n

So, when do we eat? <\/strong>Maghrib prayers are at 6:09 pm in the capital city, and you\u2019ll have until 4:25 am tomorrow to hydrate and caffeinate ahead of fajr.<\/p>\n

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

Valu raises EGP 888 mn in securitized bonds:<\/strong> EFG Holding\u2019s fintech platform Valu has issued an EGP 888 mn securitized bond issuance, which was backed by a receivables portfolio assigned to EFG for Securitization, the firm announced in a statement (pdf)<\/a>. The two-tranche issuance received ratings of Prime 1 and Prime 2 respectively, with tenors between 6 to 12 months.<\/p>\n

About the issuance: <\/strong>Valu\u2019s issuance, which is part of an EGP 9 bn extended securitization program, brings the firm\u2019s total issuances to eight, following an EGP 953-mn issuance in December<\/a>. <\/p>\n

More to come?<\/strong> The company plans to issue around EGP 4 bn worth of securitized bonds this year, Valu CEO Walid Hassouna said<\/a> earlier this month.<\/p>\n

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

Dominating the headlines in the foreign press this afternoon is the attack on a<\/strong> rock concert outside of Moscow that has claimed 133 lives, so far.<\/strong> The deadliest attack in over two decades was instigated by gunmen who fired automatic weapons on the audience on Friday evening. While ISIS has claimed responsibility for the attack, Russian President Vladimir Putin did not make any reference to the group in a public address on Saturday, writes Reuters<\/a>. Putin has said that the attackers have been trying to escape to Ukraine, helped across the border by \u201cthe Ukrainian side.\u201d Ukraine has denied any ties to the attack. (New York Times<\/a> | Bloomberg<\/a> | Associated Press<\/a>)<\/p>\n

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