Egypt to offer foreign-currency bond this quarter, minister says

Reuters , Wednesday 30 Jan 2019

Finance ministry
Finance ministry (Photo: Ahram Online)

Egypt plans to issue foreign-currency bonds in early 2019 to raise $3 to $7 billion, Finance Minister Mohamed Maait said on Wednesday.

The offering will take place in February or March, Maait told Reuters. 

Egypt plans to issue a number of dollar-denominated and euro-denominated bonds by the end of this fiscal year in June, the finance ministry said on Monday.

Another offering of green bonds as well as international bonds in an unspecified Asian currency will be offered after that, it said.

JP Morgan, HSBC and Citigroup will manage the dollar-denominated issue, the ministry said.

BNP Paribas, Natixis, Alex Bank and Standard Chartered will manage the euro-denominated issue.

Egypt raised 2 billion euros ($2.29 billion) from its eurobond sale in April last year.

($1 = 0.8750 euros) 

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