Latest news with #securitization
Zawya
19 hours ago
- Business
- Zawya
Egypt: Vaiu wraps up $17mln securitized bond
Arab Finance: valU has closed its 16th securitized bond issuance, raising EGP 858.9 million in collaboration with EFG Hermes, a subsidiary of EFG Holding, as per a disclosure. This is the sixth issuance under valU's ongoing EGP 16 billion securitization program. The bond is backed by a receivables portfolio assigned to EFG for Securitization, which serves as the special purpose vehicle (SPV) for the transaction. It is a 12-month bond with a fixed interest rate and has been rated Prime 1 (sf). valU has also submitted a request to the Financial Regulatory Authority (FRA) for approval of a new short-term multi-issuance securitization program valued at EGP 10 billion. The program, backed by portfolios worth EGP 13 billion over two years, is planned to include up to nine issuances. EFG Hermes acted as sole financial advisor, transaction manager, bookrunner, underwriter, and arranger. Arab African International Bank (AAIB) served as the underwriter and custodian. Arab Banking Cooperation (ABC) and Industrial Development Bank (IDB) were subscribers to the issuance. Dreny & Partners acted as legal advisor, and Baker Tilly as auditor. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
21 hours ago
- Business
- Zawya
Egypt: Valu closes 16th securitized bond issuance at $17.27mln
Cairo – U Consumer Finance (Valu) has closed its 16th securitized bond issuance, valued at EGP 858.90 million, in collaboration with EFG Hermes, an EFG Holding Company. The issuance marks the sixth under Valu's EGP 16 billion securitization program, according to a press release. The bond is backed by a receivables portfolio assigned to EFG for securitization, which acts as the special purpose vehicle (SPV) for the offering. The issuance holds a tenor of 12 months and is rated Prime 1 (sf), with a fixed interest rate. Valu has officially embarked on securing regulatory approval from the Financial Regulatory Authority (FRA) for its new short-term multi-issuances securitization program. Set to be executed through up to nine issuances, the program will be backed by its portfolios valued at 13 billion for two years. The new program marks a significant milestone in Valu's ambitious growth journey, reinforcing its market leadership and commitment to delivering innovative, market-shaping financial solutions. Karim Riad, CFO of Valu, commented: 'Following our commencement of trading on the Egyptian Exchange (EGX), combined with Amazon's transaction, and as part of our continuous expansion, securitizations remain a vital pillar of our financial strategy, enabling us to unlock greater capital efficiency and accelerate our growth trajectory.' 'By leveraging securitizations, we are diversifying our funding base and driving strategic growth. This latest issuance underscores our commitment to fostering innovation and maintaining our position as the preferred fintech partner in Egypt,' Riad added. EFG Hermes acted as the sole financial advisor, sole transaction manager, bookrunner, underwriter, and arranger on the issuance. Arab African International Bank (AAIB) served as both the underwriter and custodian. Arab Banking Cooperation (ABC) and Industrial Development Bank (IDB) were the subscribers to the issuance. Meanwhile, Dreny & Partners acted as the legal advisor and Baker Tilly as the auditor. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
bnok24
2 days ago
- Business
- bnok24
Valu Closes its 16th Securitized Bond Issuance, Worth EGP 858.9 Million
Valu, MENA's leading universal financial technology powerhouse, announced today the successful closing of its 16th securitized bond issuance, valued at EGP 858.9 million, in collaboration with EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA). The issuance is the sixth under Valu's EGP 16.0 billion ongoing securitization program The bond is backed by a receivables portfolio assigned to EFG for Securitization, which acts as the special purpose vehicle (SPV) for the issuance. It is a 12-month bond, rated Prime 1 (sf), and carries a fixed interest rate Building on this remarkable momentum, Valu has officially embarked on securing regulatory approval from the Financial Regulatory Authority (FRA) for its highly anticipated new short term multi-issuances securitization program, with a total value of EGP 10.0 billion that will be backed by Valu's portfolios amounting to 13.0 billion for two years. Set to be executed through up to nine issuances. The new program marks a significant milestone in Valu's ambitious growth journey, reinforcing its market leadership and commitment to delivering innovative, market-shaping financial solutions Karim Riad, CFO of Valu, commented, 'Following our commencement of trading on the Egyptian Exchange (EGX), combined with Amazon's transaction, and as part of our continuous expansion, securitizations remain a vital pillar of our financial strategy, enabling us to unlock greater capital efficiency and accelerate our growth trajectory. By leveraging securitizations, we are diversifying our funding base and driving strategic growth. This latest issuance underscores our commitment to fostering innovation and maintaining our position as the preferred fintech partner in Egypt Maie Hamdy, Managing Director – Debt Capital Markets at EFG Hermes, added, 'This issuance marks another successful chapter in our long-standing partnership with Valu, reflecting our deep commitment to providing dynamic financing solutions that support Egypt's rapidly evolving fintech landscape. Our ability to consistently structure and close high-impact transactions is a testament to the strength of our capital markets franchise and our client-centric approach EFG Hermes acted as the sole financial advisor, sole transaction manager, bookrunner, underwriter, and arranger on the issuance. Arab African International Bank (AAIB) served as both the underwriter and custodian. Arab Banking Cooperation (ABC) and Industrial Development Bank (IDB) were the subscribers to the issuance. Dreny & Partners acted as the legal advisor, and Baker Tilly as the auditor Google News تابعونا على تابعونا على تطبيق نبض
Zawya
4 days ago
- Business
- Zawya
MNT-Halan's Tasaheel concludes Egypt's first SME-focused issuance at $94mln
Cairo - Tasaheel, part of MNT-Halan, has completed Egypt's first securitization issuance, with a total value of EGP 4.70 billion across six tranches. The issuance was rated 'P1' for short-term tranches and 'A-' for long-term tranches by Middle East Rating and Investors Service (MERIS), according to a press release. Backed exclusively by a portfolio of SMEs, the transaction aligns with the company's objectives to support the economic sector and marks the largest securitization issuance in Egypt in 2025. This offering anchors Tasaheel's strategy to secure financial solutions that promote financial inclusion and drive economic growth by supporting entrepreneurs and SMEs. This is in addition to scaling access to financial services across Egypt. Ahli Pharos and the Arab African International Bank (AAIB) acted as financial advisors and lead arrangers for the transaction. Matouk Bassiouny & Hennawy served as legal advisor, while Baker Tilly was the financial auditor. The issuance was underwritten by the National Bank of Egypt (NBE), Commercial International Bank-Egypt (CIB), Suez Canal Bank, AAIB, and Ahli Pharos. The Egyptian Gulf Bank (EG Bank) acted as the custodian bank. Mounir Nakhla, Founder and CEO of MNT-Halan, commented: 'This issuance marks an important milestone in Tasaheel's journey and reflects the strength of its credit portfolio and the trust placed in its performance by financial institutions.' 'Expanding access to finance for SMEs is a cornerstone for supporting Egypt's economic development, and we are proud to lead this effort through Tasaheel,' Nakhla added. Tasaheel disburses more than EGP 1 billion monthly to back entrepreneurs and small businesses, holding over 70% market share within the non-banking financial sector in Egypt. Last March, the Financial Regulatory Authority (FRA) greenlighted MNT-Halan's request to implement electronic Know Your Customer (e-KYC) and digital contracts in Egypt.
Zawya
6 days ago
- Business
- Zawya
MNT-Halan's Tasaheel closes Egypt's first SME-focused issuance worth EGP4.7bln
Cairo – Tasaheel, Egypt's largest and fastest-growing lender for small businesses and entrepreneurs, and part of MNT-Halan, has successfully completed Egypt's first securitization issuance backed exclusively by a portfolio of SMEs, with a total value of EGP 4.7 billion across six tranches. This transaction underscores the company's leadership in supporting this vital economic sector and marks the largest securitization issuance in Egypt in 2025. The issuance was rated 'P1' for short-term tranches and 'A-' for long-term tranches by MERIS (Middle East Rating & Investors Service), reflecting the strength and quality of the underlying portfolio. This transaction aligns with Tasaheel's strategy to provide financial solutions that promote financial inclusion and drive economic growth by supporting entrepreneurs and SMEs, while expanding access to financial services across Egypt. Ahli Pharos and the Arab African International Bank acted as financial advisors and lead arrangers for the transaction. Matouk Bassiouny ; Hennawy served as legal advisor, while Baker Tilly acted as the financial auditor. The issuance was underwritten by the National Bank of Egypt (NBE), Commercial International Bank (CIB), Suez Canal Bank, Arab African International Bank, and Ahli Pharos. The Egyptian Gulf Bank acted as the custodian bank. Mounir Nakhla, Founder and CEO of MNT-Halan, commented: This issuance marks an important milestone in Tasaheel's journey and reflects the strength of its credit portfolio and the trust placed in its performance by financial institutions. Expanding access to finance for SMEs is a cornerstone for supporting Egypt's economic development, and we are proud to lead this effort through Tasaheel. It is worth noting that Tasaheel disburses over EGP 1 billion monthly to support entrepreneurs and small businesses and holds more than 70% market share within the non-banking financial sector in Egypt, solidifying its leadership in this field.
