ALC advises ValU and Palm Hills Development on their latest securitized bond issuances

December 25, 2023

Fintech platform Valu has closed a EGP 953.1 mn securitized bond issuance,which was backed by a receivables portfolio, the company said in a statement (pdf) yesterday. The four-tranche issuance has tenors between six and 12 months, all rated prime 1.

No. 7: The issuance, which is part of an extended EGP 9 bn securitization program, brings Valu’s total securitizations to seven, following a EGP 922-mn issuance in September.

Who subscribed? Arab Banking Corporation (ABC), aiBANK, and Al Ahli Bank of Kuwait (ABK) were subscribers to the issuance. AAIB and our friends at EFG Hermes were underwriters.

Advisors: EFG Hermes was the sole financial advisor, sole transaction manager, bookrunner, and arranger. ALC Alieldean Weshahi & Partners acted as counsel, Baker Tilly as auditor, and AAIB as custodian bank.

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