Egypt plans new Eurobond issue end May or early June: Finance minister

Reuters , Sunday 7 May 2017

Amr El-Garhy
Egyptian Finance Minister Amr El-Garhy (C) speaks during a news conference at the headquarters of the Ministry of Finance in Cairo, Egypt August 4, 2016 (Reuters)

Egypt plans to issue a new Eurobond at the end of May or start of June, Finance Minister Amr El Garhy said on Sunday, after finding strong investor appetite for its $4 billion issuance in January.

Garhy said at the end of April that Egypt was considering a $1.5-$2 billion Eurobond offering in the coming weeks.

Egypt sold $4 billion of Eurobonds in three tranches in January, raising twice a much as targeted and at lower yields than expected.

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