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Tuesday, 2 January 2018

Finance Ministry settles on managers and legal counsel for upcoming eurobond issuance

HSBC, Citigroup, JPMorgan Chase & Co, Morgan Stanley, and National Bank of Abu Dhabi will be managing Egypt’s upcoming USD 4 bn eurobond issuance, the Finance Ministry announced, according to Bloomberg. Al Tamimi & Co. and Dechert LLP have been chosen as legal advisers. Al Tamimi’s Head of Banking & Finance, Hossam Gramon, and Head of Corporate Commercial, Mohamed Gabr, will lead the firm’s team, according to a statement (pdf). The sale is scheduled for this month but a “final date for the sale has not been set, and the government may not carry out a lengthy roadshow like it did in previous sales,” Minister Amr El Garhy told Bloomberg.

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