{"id":657721,"date":"2024-12-25T00:00:00","date_gmt":"2024-12-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/25\/valu-one-finance-close-fresh-securitization-rounds\/"},"modified":"2024-12-25T00:00:00","modified_gmt":"2024-12-25T00:00:00","slug":"valu-one-finance-close-fresh-securitization-rounds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/25\/valu-one-finance-close-fresh-securitization-rounds\/","title":{"rendered":"Valu, One Finance close fresh securitization rounds"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Is the end-of-year securitization rush upon us? <\/strong>Fintech player Valu and consumer finance outfit One Finance both closed securitization issuances valued at a combined EGP 1.2 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA<\/strong><strong> POINT-<\/strong> These issuances bring the total value of securitized bonds issued in Egypt this year to EGP 34.1 bn \u2014 60.5% less than the amount raised in the same period last year \u2014 according to data tracked by EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>December last year saw EGP 18.6 bn worth of securitized bonds issued in only one month, accounting for 19.3% of the EGP 96.0 bn worth of securitized bonds issued throughout the whole of the year.<\/p>\n<p class=\"tag-border-left\">VALU CLOSES 13TH SECURITIZED BOND ISSUANCE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Valu closes EGP 519.2 mn securitized bond issuance:<\/strong> Homegrown fintech leader Valu has closed its thirteenth securitization bond issuance valued at EGP 519.2 mn, according to statements from <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2156.pdf\" style=\"\" rel=\"noopener\">Valu<\/a> and legal advisor <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2151.pdf\" style=\"\" rel=\"noopener\">Dreny & Partners<\/a>. The issuance is the third in a three-year EGP 16 bn program that kicked off back <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e25e2321-b340-4dfe-ba57-f75e92873d06\/%253cmark%253evalu%253c%2Fmark%253e-closes-first-egp-1.1-bn-securitized-bond-issuance-under-new-egp-16-bn-program\" style=\"\" rel=\"noopener\">in August<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Backed by a receivables portfolio, the issuance came in two tranches with tenors of six and 12 months with ratings of Prime 1 and Prime 2 from the Middle East Ratings and Investors Service (MERIS).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who bought in? <\/strong>Arab Banking Corporation and Attijariwafa Bank were among the issuance\u2019s subscribers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Valu closed its last securitized bond issuance in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f3882bef-649c-44d5-b27b-0109203aca81\/%253cmark%253evalu%253c%2Fmark%253e-closes-egp-667-mn-securitized-bond-issuance\" style=\"\" rel=\"noopener\">November<\/a>, raising EGP 667.3 mn through a transaction managed by EFG Hermes. The fintech player has raised over EGP 10.8 bn across all securitization issuances to date.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>EFG Hermes was the sole financial advisor, transaction manager, bookrunner, underwriter, and arranger. Arab African International Bank was custodian and bookrunner. Dreny & Partners offered legal counsel on the issuance, while Baker Tilly was the auditor. <\/p>\n<p class=\"tag-border-left\">ONE FINANCE CLOSES EGP 679 MN ISSUANCE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>State-owned consumer finance player One Finance has closed an EGP 679 mn <\/strong><strong>securitized bond issuance<\/strong>, its second for its consumer finance portfolio, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2150.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from legal advisor Dreny & Partners. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The issuance came in three tranches <\/strong>with ratings of Prime 1, AA, and A from MERIS and is part of a wider EGP 3 bn program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>One Finance completed its maiden securitized bond issuance worth EGP 616 mn in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/71f9d5a4-1823-4e76-a5f3-3096d60f3b7c\/securitization-market-grew-2x-in-2023-amid-financial-services-boom\" style=\"\" rel=\"noopener\">December<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>CIB acted as lead arranger, underwriter, custodian, financial advisor, and bookrunner. Bakery Tilly served as auditor and Dreny & Partners was legal counsel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This issuance brings the total value of securitized bonds issued in Egypt this year to EGP 34.1 bn<\/p>\n","protected":false},"author":1,"featured_media":657722,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7106,88,7107,72,2916,85,515],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-657721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt","tag-debt-watch","tag-efg-holding","tag-enterpriseam","tag-one-finance","tag-securitization","tag-valu","wpautop","entry"],"acf":{"mongo_id":"3a3a9574-a83e-4476-b216-7cb9fb76689e","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/2203.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Valu, One Finance close fresh securitization rounds","related_issue":[657707],"teaser":"This issuance brings the total value of securitized bonds issued in Egypt this year to EGP 34.1 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.6514bd12-8e42-4674-af1b-fae909cfb8d6.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":588993,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/20\/valu-closes-egp-1-4-bn-securitized-bond-issuance\/","url_meta":{"origin":657721,"position":2},"title":"valU closes EGP 1.4 bn securitized bond issuance","author":"enterpriseam admin","date":"20 June 2023","format":false,"excerpt":"This is the first issuance of a new EGP 4 bn program","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\/2023\/6\/948.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579038,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/23\/valu-to-kick-off-fresh-egp-5-bn-securitization-program-this-quarter\/","url_meta":{"origin":657721,"position":3},"title":"ValU to kick off fresh EGP 5 bn securitization program this quarter","author":"enterpriseam admin","date":"23 January 2023","format":false,"excerpt":"ValU is gearing up for its second securitization program: EFG Hermes\u2019 buy-now-pay-later platform valU is studying a new EGP 5 bn securitization program which it hopes to start later this year, CEO Walid Hassouna told us.The company has almost finished its first program: The consumer finance player has sold more\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\/2023\/1\/388.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582102,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/13\/rayas-aman-financial-services-issues-egp-400-mn-in-securitized-bonds\/","url_meta":{"origin":657721,"position":4},"title":"Raya\u2019s Aman Financial Services issues EGP 400 mn in securitized bonds","author":"enterpriseam admin","date":"13 February 2023","format":false,"excerpt":"Aman taps securitized market: Raya Holding\u2019s non-banking financial services outfit Aman Financial Services issued EGP 403 mn in securitized bonds, kicking off an EGP 5 mn securitization program, it said in a statement to the EGX (pdf). About the issuance: The issuance came in three tranches with tenors of 13,\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\/money-1600-4.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578063,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/14\/premium-card-issues-egp-201-mn-in-securitized-bonds\/","url_meta":{"origin":657721,"position":5},"title":"Premium Card issues EGP 201 mn in securitized bonds","author":"enterpriseam admin","date":"14 December 2022","format":false,"excerpt":"Premium Card closes seventh securitized bond issuance: Consumer finance firm Premium International for Credit Services (Premium Card) has issued EGP 200.6 mn worth of securitized bonds, our friends at EFG Hermes, which advised on the transaction, said in a statement (pdf) yesterday. 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