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Wednesday, 30 January 2019

Egypt plans to issue up to USD 3 bn, EUR 2 bn in eurobonds

Egypt will sell USD 2-3 bn plus EUR 1-2 bn in eurobonds: The Finance Ministry plans to issue USD 2-3 bn of USD-denominated eurobonds in its upcoming international issuance, slated for sometime before the end of the fiscal year this June. It also plans to issue EUR 1-2 bn in EUR-denominated eurobonds, ministry sources told the local press. The government picked its advisers for the international debt issuance earlier this week.

USD 1 bn in green, Yen-denominated bonds this year: The source reiterated that the ministry will also issue USD 500 mn in Yen-denominated bonds this year, in addition to a USD 500 mn green bond issuance. There was no mention of an RMB-denominated issuance, which the ministry had hinted at previously.

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