Egypt issues international bonds worth €2 billion in 2 tranches

MENA , Saturday 6 Apr 2019

File Photo: Egypt's Ministry of Finance (Photo: Al-Ahram)

Egypt has put up for sale international bonds at a value of €2 billion in two tranches, the Ministry of Finance said in a statement Friday.

The statement noted that Egypt issued 6-year bonds worth €750 million, maturing on April 11, 2025 in addition to 12-year bonds at a value of €1.25 billion, maturing on April 11, 2031. 

There is an increasing demand for Egypt's international bonds, the statement said, noting that Cairo receives about €9 billion worth of offers for the six- and 12-year euro-denominated bonds, representing more than four times of the bonds' value.

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