Dreny & Partners with ValU on securitization transaction
Dreny & Partners advised ValU on a EGP 858.9 million securitization transaction of a multi-issuances program for their consumer finance portfolio. The operation is part of a wider 2-year multi-issuance program with a total value of EGP 16 billion.
The deal
Backed by a receivable’s portfolio originated by ValU (U Consumer Finance), the operation comprised 1 tranche, valued at EGP 858.9 million rated P1 by the Middle East Ratings and Investors Service (MERIS).
EFG Hermes Promoting & Underwriting acted as the financial advisor and lead arranger of the transaction, alongside Arab African International Bank and EFG Hermes Promoting & Underwriting as the underwriters. Arab African International Bank also served as custodian and bookrunner, while Bakertilly (Hilal & Abdel Ghaffar) acted as the transaction’s official auditor.
The Dreny & Partners team
Managing partner Motaz El Dreny (pictured left) led the Dreny & Partners team on the matter, alongside senior associate Sherine El Menyawy (pictured right. Moreover, associate Youssef Bayoumi and junior associate Farah Younis contributed to the team effort.
The firm’s capital markets procedures team lineup on the transaction included senior associate and head of capital market procedures team Nagy Ebeid and associate Mohamed Youssef.
