Al Ahly Pharos Successfully Concludes EGP 744 Million Securitized Bond Issuance for Valu

Al Ahly Pharos Investment Banking Successfully Concludes 744 MN Securitized Bond Issuance For U Consumer Finance S.A.E. Known Under the Trademark of “Valu”.

Al-Ahly Pharos investment banking, the Investment banking arm of National Bank of Egypt announced today that they acted as the sole financial advisor, transaction lead arranger, and book-runner, for The Third Issuance of the Eighth Program valued at EGP 744 million secured by a portfolio worth EGP 880 million for U Consumer Finance S.A.E. known under the trademark of “Valu”.

Also Arab African International Bank acted as the Custodian and EG Bank acted as the Placement, While Matouk Bassiouny & Hennawy acted as the legal advisor, Baker Tilly (Mohamed Hilal & Wahid Abdelghaffar) acted as the transaction’s auditor and MERIS "Middle East for Credit Rating and Investors Service", acted as the credit rating agency for the issue. Also, EG Bank and Al-Ahly Pharos investment banking acted as the transaction’s underwriter.

The bond is comprised of 2 tranches rated by Middle East Rating Services (MERIS) as P1and A- respectively. The first tranche is worth EGP 433 million with a tenor of 12 months, the second is worth EGP 311 million with a tenor of 24 months