Egyptian FinTech Valu closes sixth issuance in a securitised bond offering

Egyptian FinTech Valu has announced that it has closed its sixth securitised bond issuance worth $29.8m.

Egyptian FinTech Valu has announced that it has closed its sixth securitised bond issuance worth $29.8m.

The issuance as part of a short-term programme that has been renewed and is backed by a receivables portfolio assigned to EFG Hermes’ Financial Group for Securitisation, the issuance’s Special Purpose Vehicle (SPV).

Valu is looking to make finance more accessible and inclusive, and this successful securitisation marks another step on that mission.

Shokry Bidair, CFO of Valu, said: “With the successful closure of our sixth securitisation in partnership with EFG Hermes, we are delighted to continue executing our strategic vision.

“This transaction is a pivotal step forward in our journey towards sustainable growth and enhancing our ability to provide our customers with an even broader array of innovative financial solutions.

“By bolstering our liquidity position, this move aligns perfectly with our aspirations to further solidify Valu’s position as a comprehensive lifestyle enabler, offering end-to-end FinTech solutions that cater to the evolving financial needs of our clients.”

The transaction marks Valu’s third issuance this year, and the sixth concluded in partnership with EFG Hermes to date.

The Giza-based firm has successfully moved from a BNPL platform into a FinTech powerhouse in recent years.

Maie Hamdy, Managing Director of Debt Capital Markets at EFG Hermes, said: “We are proud to continue playing our role in Valu’s continued growth, this latest offering in our series of securitisation issuances has been covered successfully over one and a half times.

“This securitisation transaction not only underscores our commitment to delivering innovative financial solutions but also highlights the robust collaboration between our teams.

“We are excited to continue supporting Valu’s growth journey and look forward to exploring new opportunities together.”

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