EFG Hermes publishes 4th issue of valU bonds for EGP 856.5 million
Egypt’s investment bank, EFG Hermes has published on Tuesday the 4th issue of the securitisation bonds to its company valU for selling on credit services with a value of 856.5 million Egyptian pounds.
This comes as a part of the publication programme of securitisation bonds, where an agreement on increasing its value was made to reach 4 billion pounds.
These bonds are considered guaranteed by salary documents, and they have been made effective by EFG Hermes for bonds. The issue will be introduced in one chip with a 12 months vesting period.
The recent issue is set to be an important milestone in the strategy adopted by valU, the statement said. This guarantees the enhancement of its activities, in addition to providing a full package of solutions for consumer finance and financial services technology.